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SME: Results of annual general meeting of shareholders 2011
Sme Securities Corporation (HNX: SME) has disclosed the results of its annual general meeting of shareholders held on 19/03/2011. The following resolutions were approved:
1. Operating results of 2010:
Profit before tax: VND18.4 billion (81.8% of plan)
2. Audited financial statement:
- Total assets: VND667.077 billion
- Liabilities: VND428.465 billion
- Owner’s equity: VND238.611 billion
- Profit after tax: VND14.047 billion
3. Plan 2011:
- Total revenue: VND149.054 billion
- Total expenses: VND113.841 billion
- Expected profit before tax: VND35.2 billion
4. Reports of Supervisory Board
5. Profit distribution 2010
- Profit after tax: VND14,047,587,254
- Compulsory reserve fund (5% Profit after tax ): VND702,379,353
- Reserve fund for charter capital supplement (5% Profit after tax): VND702,379,353
- Bonus fund: VND1,000,000,000
- Dividend payment (5%): VND11,250,000,000
6. Issue plan to increase charter capital to VND400 billion
- Offering volume: 17,500,000 shares
- Expected exercise time: Quarter II/2011
- Subjects of the issue;
+ Outstanding shares (exercise rate 2:1)
+ Company’s staff
+ Strategic shareholders
7. Plan of issuing corporate bonds
- Purpose: To supplement working capital
- Expected exercise time: Quarter II/2011
- Number of bonds to be issued: 300 bonds
- Par value: VND1,000,000,000
- Term: 2 years
8. List of auditing organizations for FY 2011:
- Price Waterhouse Coopers Vietnam Ltd. (PWC)
- KPMG Limited
- Auditing and Informatic Service Company (AICS)
- Audit and Financial Consulting Company & Associates (IFC-ACAGroup)
- Deloitte Vietnam Company Limited
- National Auditing Group
9. Remuneration for the BOD and Supervisory Board:
- In 2010: VND1,956,360,000
- In 2011: VND2.5 billion
10. Chair of the Board also holds General Manager position
Mr. Phan Huy Chi, Chair of the Board, also holds General Manager position in place of Mr. Pham Minh Tuan
11. The BOD is assigned to decide some issues, namely:
- Organizational structure and Regulations of the Company, Salary Fund, Bonus fund of the Company
- Selecting partners, ventures
- Capital contribution, investment
12. Election of additional members for BOD and Supervisory Board:
- BOD:
- Mr. Pham Hong Son
- Mr. Nguyen Quoc Dat
Supervisory Board
- Ms. Nguyen Thi Hai Yen
- Ms. Phan Thi Minh Giang
13. Amendment of the Company’s Charter.
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