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VCG: General Meeting of 2011 results
Vietnam Construction and Import-Export JSC (HNX: VCG) (Vinaconex., JSC) has disclosed the results of its Extraordinary General Meeting of Shareholders held on 23/09/2011. The following resolutions were approved:
Article 1: Plan of increasing charter capital from VND3,000 billion to VND5,000 billion:
- Issuer: Vietnam Construction and Import-Export Joint Stock Corporation
- Stock code: VCG
- Stock type: common
- Par value: VND10,000
- Offering volume: 200,000,000 shares
- Total par value: VND2,000,000,000,000
- Offering method: Placement with outstanding shareholders
- Exercise rate: 3:2 (Shareholders are entitled to buy 2 new shares for every 3 shares they own. The number of shares a shareholder can buy is rounded down to units digit.
- Offering price: VND 10,000/ share
- Expected excercise date: Quarter 4.2011 or Quarter 1.2012
- Odd shares and unsold shares will be distributed by the BOD to other subjects with price not lower than VND10,000 or book value in Reviewed/Audited Financial Statement of holding company as of the latest Quarter and with appropriate condition
- Expected proceeds: VND2,000,000,000,000
- Purpose for the fundraising:
+ Supplementing working capital for operation
+ Investing in some projects: Complex of houses in new urban quarter in South of Tran Thi Ly Bridge, Da Nang city; project in Tay Mo urban area and preparing for investment in some projects like project of houses for low income earners in Bac An Khanh urban area; ...
+ Restructuring debt, medium and long term resources, increasing working capital
- All distributed shares will be deposited and additionally listed on Hanoi Stock Exchange right after the end of the issue
Article 2: Change of purpose of the fundraising to increase charter capital from VND1,850 billion to VND3,000 billion:
1. Purpose of the fundraising appoved before and amount of capital was disbursed:
a. Expected purpose of fundraising approved before:
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No. |
Expected purposes of the fundraising |
Expected amount of capital to be disbursed (VND) |
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1. |
Payment for VINACONEX 2007 Bonds |
1,000,000,000,000 |
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2. |
Investment in project of Da river water phase 2 |
131,958,200,000 |
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Total |
1,131,958,200,000 |
b. Amount of capital disbursed:
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No. |
Purposes of disbursing |
Amount of capital disbursed (VND) |
|
1. |
Payment for VINACONEX 2007 Bonds |
1,000,000,000,000 |
|
2. |
Investment in project of Da river water phase 2 |
0 |
c. Amount of capital undisbursed: VND132,663,146,000
2. Changed purpose of use of capital appoved by the EGM:
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No. |
Purpose of disbursing approved by the EGM (VND) |
Amount of capital undisbursed (VND) |
|
1. |
Supplementing working capital |
132,663,146,000 |
Article 3: Result of election to replace member of Supervisory Board:
Mr. Vu Hong Tuan was elected member of Supervisory Board.
HNX
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