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NVN: Resolution on converting bonds
House Viet Nam JSC (HOSE: NVN) announced the resolution of the Board of Directors dated 08/24/2011 on the conversion of bonds:
Article 1: The Board of Directors unanimously approved the conversion plan to NVNCB2010 bonds:
- Bond name: Convertible bond of House Viet Nam JSC (NVNCB2010)
- Par value: VND1,000,000.
- Issue volume: 40,000 bonds
- Total issued value: VND40,000,000,000.
- Estimated conversion price and volume:
- According to the issue plan approved by the General Meeting on 07/26/2010, the conversion price and volume will be based on (i) Anti-dilution provision, (ii) Principle to round the converted shares down, (iii) Conversion price at the bond issue date.
- Anti-dilution provision: According to the resolution of the General Meeting on 03/12/2011 on the 20-percent cash dividend payment, in order to ensure bondholders’ rights, the conversion price will be adjusted to match with the dividend ratio. Besides, the Company has no other cases relating to the adjustment to the conversion price of NVN’s stock on the Hochiminh Stock Exchange.
- Principle to round the converted shares down: When calculating the number of shares equivalent to the number of bonds of bondholders, if the result is decimal number, it will be rounded down. For example, if the number of converted shares is 658,986.7 shares, it will be rounded to 658,986 shares.
- Conversion price at the bond issue date: VND23,170/share
- Conversion price: VND23,170 – VND2,000 = VND21,170/share
- Estimated converted volume: 1,889,446 shares
- Conversion date: September 06, 2011
- Record date for the bondholder list: September 05, 2011
- Settlement of bond principal: If bondholders register not to convert bonds, from September 06, 2011 to September 16, 2011, the bondholders will be paid principal and periodic interest amounts according to signed contracts. The conversion or settlement of principal and periodic interest amounts for these bonds will be executed when these bonds mature.
- Settlement of bond interest: Bondholders will be paid interest in both of two cases: register not to convert bonds and register to convert bonds, from September 06, 2011 to September 16, 2011. The settlement of interest will be executed when these bonds mature.
Article 2: The charter capital of House Viet Nam JSC will be raised to match with the number of new converted shares.
Article 3: This resolution took effect from August 24, 2011.
HOSE
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