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TSM: Results of Annual General Meeting of Shareholders 2011
Tien Son Cement Joint Stock Company (HNX: TSM) has disclosed the results of its Annual General Meeting of Shareholders held on 06/04/2011. The following resolutions were approved:
1. Operating results and Profit Distribution of 2010:
|
Items |
Unit |
Realized in 2010 |
|
Operating results |
|
|
|
- Revenue |
VND bil. |
107.404 |
|
- Profit after tax |
VND bil. |
7.615 |
|
Profit Distribution |
|
|
|
- Compulsory Reserve Fund (5% of Profit after tax) |
VND |
380,794,000 |
|
- Bonus Fund (7% of Profit after tax) |
VND |
533,112,000 |
|
- Welfare Fund (3% of Profit after tax) |
VND |
228,476,000 |
|
- Remuneration for Management (1.5% of Profit after tax) |
VND |
114,238,000 |
|
- Dividend payment (20% of charter capital) |
VND |
5,872,280,000 |
|
- Investment and Development Fund (7.4% of Profit after tax) |
VND |
486,990,000 |
2. Operating Plan and Profit distribution Plan in 2011:
|
No. |
Items |
Unit |
Amount |
|
1 |
Cement Output |
Ton |
145,000 |
|
2 |
Stone Output |
m3 |
160,000 |
|
3 |
Clinker Output |
Ton |
115,000 |
|
4 |
Revenue |
VND bil. |
110 |
|
5 |
Profit after tax |
VND bil. |
6.25 |
|
6 |
Dividend payment |
|
10-15% of charter capital |
|
7 |
Bonus Fund |
|
7% of profit after tax |
|
8 |
Welfare Fund |
|
3% of profit after tax |
3. Plan of investment in 2011:
- Moving stone production line to Tien Son Ltd. (Subsidiary company) from Quarter II/2011.
- Processing procedure to exploit the stone quarry
- Investing into unfired brick line.
- Developing new type of industry.
4. The BOD is assigned to select auditor for 2011
5. Remuneration for BOD, Supervisory Board in 2010, plan for 2011
- Total Remuneration for 2010: VND217,050,000,000
- Remuneration for 2011:
+ Chair of the Board: VND4mil./month
+ Deputy Chair of the Board: VND3mil./month
+ Directors: VND2.5mil./month/person
+ Chief of Supervisory Board: VND1.5%mil./month
+ Member of Supervisory Board: VND1mil./month
6. The Chair of the Board also holds Manager position of company in 2011.
hnx
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