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MCF: Results of annual general meeting of shareholders 2011
Mechanics Construction and Foodstuff Joint Stock Company (HNX: MCF) has disclosed the results of its annual general meeting of shareholders held on 25/03/2011. The following resolutions were approved:
1. Operating results of 2010 and profit distribution:
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Items
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Unit
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Realized in 2010
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Revenue
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VND
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433,602,753,844
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Profit before tax
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VND
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13,989,001,131
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Income tax
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VND
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3,531,334,085
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Profit after tax
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VND
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10,457,667,046
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Remuneration for the BOD
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VND
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192,000,000
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Bonus fund to the management board (2.5%)
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VND
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256,642,000
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Finance reserve fund (5% )
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VND
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500,451,252
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Production development fund (5%)
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VND
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500,451,252
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Bonus and welfare fund (10%)
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VND
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1,000,902,504
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Dividend payment (22.88% of charter capital)
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VND
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8,007,220,038
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2. Operating plan and profit distribution plan for 2011
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Items
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Unit
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Plan 2011
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Revenue
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VND billion
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448
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Profit before tax
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VND billion
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15
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Income tax
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VND
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3,750,000,000
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Profit after tax
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VND
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11,250,000,000
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Remuneration for the BOD
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VND
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100,860,000
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Bonus fund to the management board (2.5%)
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VND
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278,728,500
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Finance reserve fund (10% )
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VND
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1,087,041,150
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Production development fund (10%)
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VND
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1,087,041,150
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Bonus and welfare fund (10%)
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VND
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1,087,041,150
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Dividend payment (21.74% of charter capital)
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VND
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7,609,288,050
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3. Audited financial statement 2010 and report of Supervisory Board
4. Postponing investment into Moc Hoa Food Storage because appropriate location has not been found. Approving the investment into fixed assets of 2010: VND 9,987,785,269. Investment for 2011: VND21.7 billion.
5. Remuneration for BOD, Supervisory Board in 2010, plan for 2011
- Total Remuneration for 2010: VND432,000,000
- Total Remuneration for 2010: VND293,760,000, where:
+ Remuneation for Chair of the Board equals to 20% of salary of Manager.
+ Remuneation for Director equals to 20% of salary of Deputy Manager.
+ Remuneration for Chief of Supervisory Board equals to 20% of salary of Chief Accountant
+ Remuneration for Member of Supervisory Board equals to 20% of salary of Chief of Supervisory Board
+ Remuneration for the Company’s Secretary: VND1,000,000 per month
6. Auditing and Accounting Financial Consultancy Services Company Limited – AASC is selected as auditor for the company in year 2011
7. Election of additional board members.
Mr. Nguyen Ngoc Nam and Mr. Nguyen Van Kiet have been elected Directors term 2009 – 2013
8. Mr. Nguyen Ngoc Nam has been elected Chair of the Board.
hnx
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