TV2: Results of Annual General Meeting of Shareholders 2011

Power Engineering Consulting JSC No.2 (HNX: TV2) has disclosed the results of its Annual General Meeting of Shareholders held on 28/04/2011. The following resolutions were approved:

1. Operating results of 2010 and Operating plan in 2011.

Operating plan in 2011:

- Revenue: VND234.730billion

- Profit before tax: VND21.000billion

- Dividend payment: 18%/year

2. Audited Financial Statment 2010:

3. Report of Supervisory Board

4. Profit Distribution 2010:

- Profit after tax for distribution: VND16,002,360,221

- Financial Reserve Fund (5.7% of profit after tax): VND905,768,503

- Bonus and Welfare Fund (10% of profit after tax): VND1,600,236,022

- Investment and Development Fund (27.4% of profit after tax): VND4,385,096,072

- Bonus for the BOD, Supervisory Board and Management Board: VND185,259,624

- Dividend payment (55.47% of profit after tax): VND8,878,000,000

5. Dividend payment 2010 in cash:

- Exercise rate: 20% of par value

- Expected exercise date: By end of July, 2011

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

Remuneration in 2010 as General Mandate 2010

Plan in 2011:

- Remuneration for the BOD and Supervisory Board:

+ Salary for Chair of the Board: VND55million/month

+ Remuneration for Director: VND4.0million/month

+ Remuneration for Chief of Supervisory Board: VND3.5million/month

+ Remuneration for Member of Supervisory Board: VND2.5million/month

- Bonus for the BOD, Supervisory Board and Management Board:

+ Extra profit from 1-10%: Premium bonus is 1.5% of profit after tax.

+ Extra profit over 10%: Premium bonus is 2.0% of profit after tax.

7. The BOD is authorized to select auditor for Financial Statement 2011 from following list:

- UHY Audit & Advisory services Limited (UHY LTD)

- International Auditing and Financial Consulting Company Ltd. (IFC)

- Audit and Financial Consulting Company & Associates (ACA)

8. Supplement operating industries to business registration certificate.

9. Change in management model.

hnx

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