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TET: Board Resolution
Northern Textiles and Garments JSC (HNX: TET) announces the Board Resolution approved on 05/08/2011 as follows:
1. Dividend payment 2011 and Setting up Bonus and Welfare Fund 2011:
- Dividend payment 2011: 8%
- Setting up Bonus and Welfare Fund 2011: VND400,000,000
- General Manager is authorized to select record-date for dividend payment.
2. Approving the sale of 57.41% of Truong Ha JSC’s equity held by Northern Textiles and Garments JSC, detailed:
- Seling method: Full-package auction
- Initial price: VND25,990,000,000 (Based on the company value assessed by PKF Vietnam Auditing Company limited on 01/01/2011)
- The General Manager is assigned to choose a securities company to hold the auction as regulated by law
3. Repurchase of shares for Treasury stock:
- Resouces: Owners’ Equity
- Buying back shares from SCIC at the negotiated price
- Buying back shares via order matching at HNX.
HNX
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