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PXM: PVC MT to sell Riverside Hotel
On may 30, 2011, the Board of Directors of Mien Trung Petroleum Construction Joint Stock Company (PVC-MT) (HOSE: PXM) decided to approve the transfer intention of Da Nang Riverside Hotel and a 5,000-square-meter area in Son Tra, Da Nang City. The transfer will be executed through a public auction.
Reason of the transfer: To stabilize the Company’s financial resources in order to focus on business operations and decrease the pressure of bank loan interest.
The Board of Directors authorized the Directorate to execute the transfer of hotel with beginning prices as follows:
1. Beginning price for 01 subject: VND240,500,000,000, excluding VAT.
In which:
• Land use right for 5,000 square meters: VND102,500,000,000.
• Land use right for the hotel and assets on the land: VND138,000,000,000.
2. Beginning price for 02 subjects: VND245,310,000,000, excluding VAT.
In which:
• Land use right for 5,000 square meters: VND104,550,000,000.
• Land use right for the hotel and assets on the land: VND140,760,000,000.
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