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LBM: Resolution of the BOD
Lam Dong Mineral and Building Material Joint Stock Company (HOSE: LBM) announced the resolution of the Board of Directors on April 17, 2011:
1. The Board of Directors approved the audited financial statements and the profit distribution of 2010:
- Revenue: VND143,609,080,267
- Profit before tax: VND15,259,413,708
- Fund distribution: VND2,168,427,332
- Dividend 2010: 12%
2. The Board of Directors approved the business plan for 2011:
- Revenue: VND160,000,000,000
- Profit before tax: VND18,000,000,000
- Fund distribution: VND14,400,000,000
- Dividend 2010: at least 13%
3. The Board of Directors approved to invest in 02 projects:
- Project: Diversifying products after baking (Hiep An Enterprise)
- Total investment: VND5,042,730,130
- Project: Raising capacity of Trai Mat Kaolin Factory
- Total investment: VND2,255,468,444
4. The Board of Directors approved to liquidate the kaolin processing equipment in Hiep Tien Kaolin Factory. Selling price: according to the remaining book value until 12/31/2010: VND370,379,490.
5. The Board of Directors approved the investment plan for term 2011-2015:
- Investing and expanding kaolin material, clay, stone areas: VND35 billion.
- Investing and renovating technology, developing production: VND47.55 billion.
- Including: Investment in 2011: about VND23.34 billion.
6. The Board of Directors approved the administration report of 2006-2010.
7. The Board of Directors approved to consider the investment effect of LBM Company in Hiep Phu Joint Stock Company. The Board of Directors authorized the Directorate to study and analyze to report the Board of Directors.
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