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TMC: Results of annual general meeting of shareholders 2011
Thu Duc Trading and Import - Export Joint Stock Company (HNX: TMC) has disclosed the results of its Annual general meeting of shareholders held on 02/04/2011. Participants were 123 representing 7,180,455 shares (Accounting for 89.75% of total voting rights). The following resolutions were approved:
1. Operating Results of 2010 and Profit Distribution:
Profit before tax
|
Items |
Unit |
Realized in 2010 |
% compared to plan |
|
Revenue |
VND |
1,651,604,607,234 |
110.11 |
|
VND |
29,511,919,681 |
101.77 |
|
|
Dividend payment |
% |
16 |
|
2. Operating Plan in 2011:
|
Items |
Unit |
Plan 2011 |
|
Revenue |
VND bil. |
1,650 |
|
Profit before tax |
VND bil. |
26 |
|
Dividend payment |
% |
16 |
3. Profit distribution in 2010:
|
No. |
Items |
Unit |
Amount |
|
1 |
Profit after tax |
VND |
21,835,641,998 |
|
2 |
Distributed Profit for Partners |
VND |
878,727,039 |
|
3 |
Total profit distribution |
VND |
20,956,914,959 |
|
4 |
Funds |
VND |
5,239,228,740 |
|
|
- Finance reserve fund (5% Profit after tax) |
VND |
1,047,845,748 |
|
|
- Investment and development fund (5% Profit after tax) |
VND |
1,047,845,748 |
|
|
- Bonus fund (7% Profit after tax) |
VND |
1,466,984,047 |
|
|
- Welfare fund (8% Profit after tax) |
VND |
1,676,553,197 |
|
5 |
- Remuneration for the BOD, Supervisory Board |
VND |
390,250,000 |
|
|
- Bonus for the BOD, Supervisory Board, Management Board |
VND |
129,200,000 |
|
|
- Other payment |
VND |
32,377,524 |
|
6 |
Profit for dividend payment (16%) |
VND |
12,799,908,800 |
|
7 |
Retained earnings |
VND |
2,365,949,895 |
4. Approving the issue shares to increase charter capital:
The plan of issue shares:
- Name of the issuer: Thu Duc Trading and Import – Export Joint Stock Company
- Stock type: Common stock
- Number of shares to be offered: 4,400,000 shares
- Total value of shares to be offered: VND 44,000,000,000
Subject of the issue:
* Outstanding shareholders:
+ Number of shares to be offered: 4,000,000 shares
+ Offering method: Exercise rights
+ Price: from VND 10,000 to VND 15,000 per shares
+ Exercise rate: 2:1. Shareholders are entitled to buy 1 new shares for every 2 shares they own. The number of shares shareholder can buy is rounded down to units digit. The odd lot shares and shares unsold will be sold by the Board of Directors to other subjects with price not lower than VND 15,000 per share.
* Staffs:
+ Number of shares to be offered: 400,000 shares
+ Subject of the issue: The Board of Directors, Supervisory Board, Management Board and Employees.
+ Price: VND 10,000.
The shares unsold will be sold by the Board of Directors to other subjects with price not lower than VND 10,000 per share.
- Proceeds: Supplement to working capital.
5. Amendment in Company’s charter
6. Mr. Hoang Dinh Son has been appointed Director in place of Mr. Ly Hong Duc with effect since 17/12/2010.
7. Moving all shares listed on Hanoi Stock Exchange to Ho Chi Minh Stock Exchange.
8. The BOD is authorized to select auditor for Financial Statement 2011 from the following list:
- Southern Auditing and Accounting Financial Consulting Services Company Ltd (AASCS)
- Auditing and Informatic Service Company (AISC)
- American Auditing Co., Ltd. (AA)
9. Remuneration for the Board of Directors and Supervisory Board
10. Chair of the Board also holds Operating Manager position.
- Approval rate: 100%.
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