SNG: Results of annual general meeting of shareholders 2011

Song Da No.10.1 Joint Stock Company (HNX: SNG) has disclosed the results of its annual general meeting of shareholders held on 30/03/2011. The following resolutions were approved:

1. Operating results of 2010 and Plan in 2011:

- Operating results of 2010:

- Operating plan in 2011:

Approval rate: 99.82% (2,854,120 shares)

2. Audited Financial Statement 2010.

Approval rate: 99.38% (2,742,120 shares)

3. Report of the Board of Directors in 2010 and Plan in 2011.

Approval rate: 99.82% (2,854,120 shares)

4. Report of Supervisory Board in 2010.

Approval rate: 99.38% (2,742,120 shares)

5. Profit distribution 2010:

5.1. Profit distribution and setting up funds:

* Realized Profit in 2010: VND 27,310,721,246

- Income tax payable (15%): VND 4,303,794,608, in which:

+ Payables to the State (50%): VND 2,151,897,304

+ Exempted tax (50%) used to supplement Investment and Development fund: VND 2,151,897,304

* Profit transferred from 2009 according to the State Auditor: VND 374,544,610

* Profit after tax: VND 24,784,279,332

- Exempted tax (50%) used to supplement Investment and Development fund: VND 2,151,897,303

- Distributed profit: VND 22,632,382,028:

+ Financial Reserve Fund (5%): VND 1,131,619,101

+ Investment and Development Fund (32.8%): VND 7,416,624,724

+ Bonus and Welfare fund (10%): VND 2,263,238,203

+ Remuneration for the BOD and Management Board: VND 300,000,000

+ Dividend payment (50.9%): VND 11,520,900,000

Approval rate: 99.38% (2,742,120 shares)

5.2. Dividend payment plan in 2010: 30% of charter capital:

5.2.1. Dividend payment 2010 in cash: 10% of charter capital.

5.2.2. Plan of dividend payment for outstanding shareholders by share:

- Number of shares to be offered: 768,060 shares

- Stock type: Common stock

- Par value: VND 10,000 per share

- Total par value of shares to be offered: VND 7,680,600,000

- Exercise rate: 05:01 (Shareholders receive 01 new share for every 05 shares they own). The number of shares shareholder receive is rounded down to unit digit. The odd lot shares will be paid in cash at the par value of VND 10,000 per share.

- Current Treasury shares: 54,700 shares.

These shares are not entitled to receive dividend payment by shares.

- Resource: Profit after tax

- Expected charter capital after the issue: VND 46,630,600,000

Approval rate: 99.82% (2,854,120 shares)

6. Remuneration for the BOD, Supervisory Board and Management Board in 2010 and plan in 2011.

Approval rate: 99.38% (2,742,120 shares)

7. The BOD is assigned to select auditor for 2011.

8. Cancel the 2 round increasing charter capital from VND 38,950,000,000 to VND 45,000,000,000.

hnx

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