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EFI: Board resolution
Education Financial Investment Joint Stock Company (HNX: EFI) announces the Board Resolution approved on 10/03/2010 as follows:
1. Approving operation results, profit distribution 2010 and operation plan 2011
- Operation results 2010
+ Profit (Loss) before tax: VND 13.622 billions
+ Profit (Loss) after tax: VND 10.543 billions
2. 2010 Profit allocation is as follows
- Finance Reserve Fund: 5% of Profit after tax
- Investment & Development Fund: 5% of Profit after tax
- Bonus and welfare fund: 5% of Profit after tax
- Remuneration and welfare fund: 5% of Profit after tax
3. Dividend payment 2010
Recording dividend payment 2010 with rate of 7%. Board of Directors is authorized the use of undistributed profits to purchase treasury stock with max-price of VND 10,000 per share. Board of Directors have responsible to ensure the resources to pay dividend 2010 for shareholders
4. Approving plan of operation and profit distribution 2011
- Revenue: VND 30 billion
- Profit before tax: VND 19.5 billion
- Unit wage: VND 300 of VND 1000 profit before tax and wage
- Dividend payout ratio: 12%
- Bonus and welfare fund: 5% of Profit after tax
- Remuneration and welfare fund: 5% of Profit after tax. In case of extra plan profit, Board of Directors will be reWarded with 20% of extra plan profit
5. Admendment of Directors
- Mr. Nguyen Quang Vinh - Director - Cum - General Manager of Sai Gon Ha Noi Securities Joint Stock Company
- Mr. Nguyen Quoc Hung - Chair of the Board - Cum - General Manager of Alpha Securities Joint Stock Company
6. Approving Report of Supervisory Board and selecting Auditor 2010
7. Suplementing purpose of use of capital
8. Admendment of charter
9. Board of Directors is authorized the use of redundancy capital and other capital to purchase treasury stock of 20% of charter capital.
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