HGM: Results of annual general meeting of shareholders 2011

Ha Giang Mineral Mechanics Joint Stock Company (HNX: HGM) has disclosed the results of its Annual general meeting of shareholders held on 31/03/2011. The following resolutions were approved:

1. Report of Operating result of 2010 and plan in 2011 as follow:

- Revenue: VND 120 bil (2011’s plan)

- Profit before tax: VND 70 bil (2011’s plan)

- Dividend payout ratio: At least 25% of charter capital

2. Investment plan in 2011

- Survey of new field: Bo Moi- Tham Tieng

- Complete the extension of disposal area of Mau Due antimon

- Construction of antimon factory

- Construction of high-rise building in area of company’s head office

3. Activities report of the BOD for period 2006-2010 and plan for period 2011-2015

4. Activities report of the Supervisory Board for period 2006-2010 and plan for period 2011-2015

5. Audited financial statement 2010

6. Profit distribution plan:

+ Dividend payment: 40% by cash

+ Social welfare fund: VND 492 mil

+ Development Investment fund: 20%

+ Reward and welfare fund: 10%

7. Payment for Board of Directors and Supervisory Board in 2010 (VND 286,500 mil) and plan for 2011 (VND 486 mil)

8. Reward the BOD in 2010 (VND 1 bil)

9. Charter capital increased from VND 60 bil to VND 120 bil by bonus share issued to outstanding shareholders (Exercise rate 1:1, in replace of the old exercise rate: 3:1)- to be implemented in 2011.

10. Continued implementing the seasoned issue plan to management board, key employees, best employees in pursuant to general mandate of the company’s extraordinary meeting at 11/9/2010.

11. Amendment of the company’s charter

12. Assigning Deloitte Vietnam as auditor for auditing the Company’s 2011 financial statement

13. Voting of member of the BOD for period 2011-2015:

- Mr. Mai Ngoc Tien- Chair of the Board

- Mr. Trinh Ngoc Hieu

- Mr. Pham Thanh Do

- Mr. Dao Xuan Tuat

- Mr. Le Thanh Tuan

- Mr. Nguyen Van Thang

- Mr. To Huy Vu

14. Voting of member of the Supervisory Board for period 2011-2015:

- Ms. Luong Thi Tuyet- Chief of SB

- Mr. Nguyen Huu Dung

- Mr. Van Quoc Tan.

hnx

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