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D2D: BOD's resolution on a share buyback
On July 01, 2011, the Board of Directors of Industrial Urban Development Joint Stock Company No.2 (Short name: D2D) (HOSE: D2D) issued a resolution on a share buyback as follows:
Until now, D2D is listing 10,700,000 shares (The outstanding volume is 10,654,984 shares). In which, the State shareholder holds 6,174,000 shares (57.7%).
From the resolution dated 03/16/2011 by the member board of Sonadezi Corporation, the State shareholder will withdraw capital in D2D, from 57.5% down to 51% Eequivalent to a decrease of 717,000 shares). Basing on the current financial ability and in order to stabilize the price of D2D’s stock, the Board of Directors of D2D decided to buy back all shares which the State shareholder decrease (717,000 shares) for its treasury shares by negotiation. The financial funds to buy 717,000 shares is from D2D’s capital surplus (With the balance worth about VND69 billion).
After the State Securities Commission and the Hochiminh Stock Exchange approve the share repurchase, the transaction will be registered in July 2011.
HOSE
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