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SKS: Results of annual general meeting of shareholders 2011
Song Da Transportation Construction Joint Stock Company (HNX: SKS) has disclosed the results of its annual general meeting of shareholders held on 26/03/2011.The following resolutions were approved:
1. Approving 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 billion
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125.8
|
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Profit before tax
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VND billion
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13.5
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Payables to the State
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VND billion
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14.7
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Average Income
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VND/ employee/month
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4,300,000
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Investment
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VND billion
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19.1
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2. Approving Operating Plan and Dividend payment plan in 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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168
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Profit before tax
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VND billion
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17.8
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Dividend payment
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%
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18
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Payables to the State
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VND billion
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18
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Average Income
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VND/ employee/ month
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4,500,000
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Investment
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VND billion
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38.01
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3. Approving Operating Plan for five years 2011-2015:
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Items
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Unit
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Plan 2011-2015
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Total Revenue
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VND billion
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1,076.8
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Profit before tax
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VND billion
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133.8
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Average Dividend payment
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%
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19.4
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Payables to the State
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VND billion
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114
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Average Charter capital
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VND billion
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88
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Investment
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VND billion
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174
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4. Approving Operating Plan in 2020:
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Items
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Unit
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Plan 2020
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Revenue
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VND billion
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436.3
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Profit before tax
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VND billion
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45
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Dividend payment
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%
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>=21
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Payables to the State
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VND billion
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37
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Charter capital
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VND billion
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150
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5. Approving the Audited Financial Statement 2010:
Unit: VND
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No.
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Items.
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2009
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2010
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1
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Total Assets
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77,743,787,585
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141,396,139,499
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|
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Current assets
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57,616,530,673
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108,180,943,021
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|
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Fixed assets
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20,127,256,912
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33,215,196,478
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2
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Total Resources
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77,743,787,585
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141,396,139,499
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Liabilities
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40,575,813,633
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73,164,333,495
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Owners' Equity
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37,167,973,952
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68,231,806,004
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3
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Production value
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85,312,456,000
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153,384,054,438
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4
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Net sales of merchandise and services
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87,316,647,026
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124,911,073,009
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5
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Operating Profit
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9,936,991,212
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13,407,442,367
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6
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Profit before tax
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10,141,753,118
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13,506,496,912
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7
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Profit after tax
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7,666,315,639
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10,129,872,707
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6. Approving Report of Supervisory Board.
7. Approving Profit Distribution and Dividend payment in 2010:
Unit: VND
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No.
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Items.
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2009
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1
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Realized profit in 2010
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13,506,496,912
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2
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Profit taxed in 2010
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13,506,496,912
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3
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Income tax (25%)
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3,376,624,205
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4
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Profit after tax
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10,129,872,707
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5
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Retained earnings transferred from 2009
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1,066,710,595
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6
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Setting up Funds
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2,025,974,540
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- Financial Reserve Fund (5%)
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506,493,635
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- Investment and Development Fund (5%)
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506,493,635
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- Bonus and welfare Fund (10%)
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1,012,987,270
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7
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Retained earnings after setting up fund
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8,103,898,167
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8
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Remuneration for the BOD, Supervisory Board
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216,000,000
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9
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Bonus for Management Board
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300,000,000
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10
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Expected Dividend payment
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8,100,000,000
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11
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Dividend payout ratio
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18% of VND 45bil. of charter capital
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12
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Retained earnings transferred to 2011
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554,608,762
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8. Approving Remuneration for the BOD and Supervisory:
- In 2010: VND 375,000,000
- In 2011: VND 516,000,000
9. The BOD is authorized to select auditor for Financial Statement 2011 from the following list:
- Hanoi Profession of Auditing & Accounting Company Ltd (CPA HN)
- Viet Nam Auditing And Accounting Consultancy Company (AVA)
- Vietnam Auditing, Accounting Financial and Tax consulting company Ltd.
- Vietnam Auditing Partnership Company (CPA)
10. Amendment in the Company’s Charter.
11. Approving the plan of seasoned issue
- Name of the stock: Song Da Transportation construction Joint Stock Company
- Stock Type: Common stock
- Par value: VND 10,000
- Total volume of shares to be offered: 2,500,000 shares
- Total par value of shares to be offered: VND 25,000,000,000
- Expected charter capital after the issue: VND 70,000,000,000
Offering method:
* Placement with outstanding shareholders:
- Offering volume: 2,295,000 shares
- Exercise rate: 100:51 (Shareholders are entitled to buy 51 new shares for every 100 shares they own). Number of shares will be rounded down to units digit. The odd lot shares and shares unsold will be distributed by the BOD to other subject with price not lower than VND 10,000 per share.
- Offering price: VND 10,000 per share
- Total par value of shares to be offered: VND 22,950,000,000
- Share purchase rights can be transferred only once.
* Placement with employees:
- Offering volume: 205,000 shares
- Offering price: VND 10,000 per share
- Total par value of shares to be offered: VND 2,050,000,000
- Expected proceeds: VND 25,000,000,000
- All new shares will be deposited in Vietnam Securities Depository and listed on Hanoi Stock Exchange.
- Use of the proceeds: Investing in machines and supplying working capital
- The Board of Directors is responsible for carrying out these tasks.
- The Board of Director is responsible for carrying out these tasks.
hnx
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