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CPC: Results of Annual General Meeting of Shareholders 2011
Cantho Pesticides Joint Stock Company (HNX: CPC) has disclosed the results of its Annual General Meeting of Shareholders held on 01/04/2011. The following resolutions were approved:
1. Operating results of 2010:
|
Items |
Unit |
Realized in 2010 |
% compared to plan |
|
Revenue |
VND |
137,455,484,185 |
103.35 |
|
Profit before tax |
VND |
13,124,052,288 |
100.95 |
|
Profit after tax |
VND |
11,782,376,138 |
|
|
Dividend payment in cash |
VND |
5,830,835,009 |
15% |
|
Bonus shares issue (Resourse: paid-in capital) |
VND |
1,943,600,000 |
5% |
Operating and Investing Plan in 2011:
|
Items |
Unit |
Plan 2011 |
|
Revenue |
VND mil. |
142.0 |
|
Profit before tax |
VND mil. |
13.3 |
|
Profit after tax |
VND mil. |
10.0 |
|
Dividend payment in cash |
% |
From 18% to 22% |
Plan of purchase new machine in 2011: VND 6,500,000,000
2. Approving the Audited Financial Statement 2010
3. Profit distribution, Setting up Funds and Remuneration for the BOD and Supervisory Board:
|
No. |
Items |
Unit |
Amount |
|
1 |
Profit before tax |
VND |
13,124,052,288 |
|
2 |
Profit after tax |
VND |
11,782,376,138 |
|
2.1 |
Bonus for Management Board |
VND |
235,500,000 |
|
2.2 |
Remuneration for the BOD and Supervisory Board |
VND |
235,500,000 |
|
2.3 |
Retained Earnings |
VND |
2,155,000,000 |
|
2.4 |
Compulsory Reserve Fund |
VND |
411,000,000 |
|
2.5 |
Investment and Development Fund |
VND |
942,641,129 |
|
2.6 |
Bonus and Welfare Fund |
VND |
1,971,900,000 |
|
3 |
Dividend payment |
VND |
|
|
3.1 |
1st round dividend payment (5%) |
VND |
1,943,611,670 |
|
3.2 |
2nd round dividend payment (10%) |
VND |
3,887,223,339 |
|
3.3 |
Bonus shares (5%) |
VND |
1,943,600,000 |
|
3.4 |
Expected exercise date for dividend payment |
|
06/06/2011 |
4. Approving Plan of Remuneration for the BOD, Supervisory Board and Management Board in 2011 as follows:
- Remuneration for Management Board: 2% of profit after tax if the profit achieved is higher than the plan.
- Premium bonus for the BOD and Supervisory Board with 5% of extra plan profit but the total is not over 3% of profit after tax.
- Remuneration for the BOD and Supervisory Board: 2% of profit after tax.
5. Approving Amendment in Company’s charter.
6. Approving change in personnel: Mr. Duong Minh Thanh has been appointed member of Supervisory Board in place of Mr. Nguyen Ngoc Minh.
7. The BOD is authorized to select auditor for Financial Statement 2011 from the following list:
- Auditing and Informatic Service Company AISC
- Auditing and Consulting Company Ltd. A&C
- American Auditing Company Ltd. AA
8. The BOD is responsible for reasoned issue to increase charter capital by VND 5 -10 billion.
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