DBC: Results of annual general meeting of shareholders 2011

Dabaco Vietnam Corporation (HNX: DBC) has disclosed the results of its annual general meeting of shareholders held on 26/03/2011. The following resolutions were approved:

1. Report of Operating result of 2010

- Revenue: VND 2,570,934 mil

- Profit before tax: VND 202,378 mil

- Profit after tax: VND 176,300 mil

- Dividend payout ratio 2010: 15%

- Remuneration to the BOD: VND 1,080,000,000

- Remuneration to the Supervisory board: VND 96,000,000

- Remuneration to the Secretary of the BOD: VND 24,000,000

- Completion of the seasoned issue of 18,164,440 shares to outstanding shareholders and employees, to increase charter capital to VND 436,111,000,000. Issuance of 2,544,666 convertible bonds for outstanding shareholders. Total proceeds from these two issuance: VND 556,795,480,000

2. Plan in 2011

- Revenue: VND 3,754,562 mil

- Profit after tax: VND 220,000 mil

3. Investment plan in 2011:

- Implement approved projects: Offlice building and real estate trading floor, Egg processing plant, fish meal producing plant..

- Carried out the project on construction of infrastructure in Que Vo III Industrial zone, Project of Urban area and services at Que Vo III Industrial zone

- Implementation of other BT projects

4. Agreed on report of Supervisory Board

5. Agreed on Audited financial statement 2010 and profit distribution plan:

+ Dividend payment 2010 (15%): VND 38,169,990,000

+ Production development Fund (60%): VND 77,874,292,237

+ Financial reserve fund (10%): VND 16,846,047,706

+ ReWard and welfare fund: VND 16,846,047,706

6. Agreed on the dividend payment of 2011: 20% (Shareholders received VND 2,000 for every 01 share they owned)

7. Assigning the Board of Directors to choose auditor for auditing the Company’s 20101financial statement

8. Plan of Payment for Board of Directors and Supervisory Board for 2011

9. Change of company’s name:

- Old name: Dabaco Vietnam Corporation

- New name: Dabaco Group

10. Amendment of company’s charter capital regarding change of company’s name.

11. Agreed on the Chair of the Board hold concurrently General Manager in 2011.

hnx

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