KLS: Report on use of proceeds
On 14/04/2011, Kim Long Securities Corporation (HNX: KLS) reported the use of proceeds in the issue approved by the SSC on 24/02/2010 as follows:
1. Proceeds from the issue: VND1,026,528,095,000
2. Use of proceeds:
- Pushing the proprietary dealing, especially contributing capital, buying shares of potential companies (Total investment at the end of 2010 is over VND1,100 billion). However, because of unfavourable market, the disbursement for issue underwriting and widening the brokerage market share has not been carried out.
- According to the plan, a part of proceeds will be used for margin trading services. However, the legal grounds for this activity has not been issued, this amount will be deposited in banks.
- According to the plan, a part of proceeds will be used for other acitivities. However, the Company has not found opportunities for investment. Thus, this amount will still be deposited in banks.
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