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CMS: Results of annual general meeting of shareholders 2011
Cavico Constrution Manpower and Services Joint Stock Company (HNX: CMS) has disclosed the results of its Annual general meeting of shareholders held on 26/03/2011. The following resolutions were approved:
1. Operation plan 2011 and Operating results of 2010:
Operating results of 2010
- Total assets: VND119,534,935,697 , including:
+ Current assets: VND87,938,350,246
+ Fixed assets: VND31,596,585,451
- Total resources: VND119,534,935,697 , including:
+ Liabilities: VND86,974,982,063
+ Owners’ equity: VND32,559,953,634
- Operating results:
+ Gross sales of services: VND145,301,816,921
+ Gross profit from sale of merchandise and services: VND25,228,554,726
+ Operating profit (Loss): VND12,564,766,067
+ Profit (Loss) from other activities: VND238,119,927
+ Accounting profit (Loss) before tax: VND12,802,885,994
+ Accounting profit (Loss) after tax: VND9,714,820,476
- (Realized) Profit distribution:
+ Retained earnings of 2009: VND186,149,343
+ Profit 2010: VND9,714,820,476
+ Accounting profit 2010: VND9,900,969,819
+ First dividend payment (30% of charter capital VND10 billion): VND3,000,000,000
+ Second dividend payment (10% of charter capital VND25 billion): VND2,500,000,000
+ Remuneration for the BOD and Supervisory Board 2010: VND444,000,000
+ Retained earnings: VND3,956,969,819
Operation plan 2011 with some basic creteria:
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Items
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Unit
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Realized in 2011
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Production
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VND
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171,761,545,000
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Revenue
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VND
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167,978,484,000
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Profit before tax
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VND
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18,232,977,000
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Profit before tax
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VND
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13,674,732,000
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Average dividend payment 2011
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%
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30
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2. Profit distribution and setting up funds plan 2010 with following creteria: (criteria là số nhiều rồi)
- Reserving funds: VND1,360,074,865
+ Finance reserve fund (5%): VND485,741,023
+ Operation development fund (5%): VND485,741,023
+ Bonus fund (4%): VND388,592,819
- Remained profit after setting up funds: VND2,596,894,954
- Dividend payment in cash by 10%: VND2,500,000,000
- Retained earnings transferred to 2011: VND96,894,954
3. Payment plan for the BOD, Supervisory Board and Secretary 2011: VND700,000,000
4. Change in BOD and Supervisory Board:
5. Resignation from representative of Cavico Bridge and Tunnel in CMS:
- Mr. Dang Minh Toan
- Mr. Chu Dinh The
- Mr. Pham Minh Phuc
6. Resignation of following members from the BOD and Supervisory Board:
- Mr. Dang Minh Toan
- Mr. Chu Dinh The Director
- Ms. Truong Kim Thanh Chief of Supervisory Board
- Mr. Ta Duc Hai Member of Supervisory Board
- Mr. Nguyen Xuan Son Member of Supervisory Board
7. Election of additional members for the BOD term 2008-2013:
List of Directors:
- Mr. Ha Van Choang
- Mr. Nguyen Van Phi
List of Members of Supervisory Board term 2008-2013:
- Ms. Nguyen Thi Hoa
- Mr. Ngo Van Tinh
8. Selecting auditing company 2011:
Authorizing the Supervisory Board to select auditing company 2011 following below creteria:
- Auditing company is allowed to audit listed companies
- Auditing companies which has experiences in auditing fields that CMS. is operating in.
9. Adjusment in Company’s charter:
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Charter/Items
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Old contents
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New contents
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Position
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- Executive director
- Management Board
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- General Executive Director
- General Management Board
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Charter III – Article 3.1
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Business fields
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Business fields:
- Sales of setting up equipments in construction
- Sales of metal and metal ores
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10. Seasoned issue to increase charter capital:
- Offering method: Seasoned issue to increase charter capital from VND25 billion to VND50 billion
- Total volume of shares to be offered: 2,500,000 shares
- Stock type: Common stock
- Target subject: shareholders with rate 1: 1
- Par value: VND10,000
- Offer price: VND10,000/share
- Use of proceeds:
Establishing subsidiary: VND6 billion
Investment in equipment: VND10 billion
Working capital: VND9 billion
- Undistributed shares will be offered to strategic shareholders with price not lower than VND10,000 per share.
11. Depository at VSD and listing new shares from this seasoned issue on the Hanoi Stock Exchange.
hnx
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