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EFI: Report on use of proceeds
Education financial investment JSC (HOSE: EFI) reports the use of proceeds in the issue of 9,855,700 shares approved by the State Securities Commission as follows:
1. Result of the issue:
+ Issuer: Education financial investment JSC
+ Stock code: EFI
+ Stok type: Common stock
+ Par value: VND 10,000 per share
+ Number of shares to be issued: 9,930,000 shares
+ Number of shares issued: 9,855,700 shares
+ Net proceeds: VND 121,839,950,000
2. Report on use of proceeds
- Purpose of the issue is to invest in 187 Giang Vo Complex City Project
- According to the first report on use of proceeds of the company on 06/01/2011, the project will continue to be implemented, but slower than the progress
- Viet Nam IP is assigned to be investor who research and implement the projects
- The project is starting to complete the relocation of premises and waiting for The Department of Planning and Architecture of Hanoi approval of plans. The proceeds will be disbursed for the implementation of the project
- Annual General meeting of shareholders on 05/03/2011: Due to capital contribution in 187 Giang Vo Complex City Project according to the progress should not use all capital at the same time. So Board of Director is authorized to use net proceeds to increase capital efficiency.
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