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HQC: Resolution of the BOD
On September 30, 2011, the Board of Directors of Hoang Quan Consulting – Trading – Service Real Estate Corporation (HOSE: HQC) unanimously approved to adjust the bonus and dividend payment plans for the year 2010 as follows:
Article 1: Approved the plan of issuing bonus shares and paying stock dividend for 2010 one time instead of issuing many times
The Board of Directors approved the adjustment to the plan of issuing bonus shares and paying stock dividend for 2010:
• Bonus and dividend rate: 50% par value (or 2:1)
• Total bonus and dividend value: VND200 billion
• Including:
• Bonus: VND53,949,000,000.
• Dividend: VND146,051,000,000.
• Estimated issue volume: 20,000,000 shares
• Par value: VND10,000
• Total issue value: VND200 billion
• Stock type: Common stock
• Object of the issuance: The existing shareholders whose names are in the list on the record date
• Distribution method: Each shareholder owning 01 share will receive 01 right. And with every 02 rights, he will receive 01 new share
• Rights to receive bonus shares and stock dividends are not transferred. The new shares are transferable after listing
• The number of shares issued to the existing shareholders will be rounded down to unit. The number of odd shares which are under 01 share will be cancelled. The odd shares will be resolved by the Board of Directors by two plans: (i) adding to the owning number of any shareholder if the number of odd shares is lower than 5,000 shares; (ii) selling the shares to shareholders or other investors at the par value if the number of odd shares is over 5,000 shares, in order to ensure the issue volume enough 20 million shares
• For example, on the record date, shareholder A owning 25 shares will receive 12.5 new shares. However, after rounded down, the number of shares he will receive in fact is 12 new shares
• Record date: Will be decided by the Board of Directors
• Payment source: From the undistributed profit cumulated until 12/31/2010 on the audited consolidated financial statements
• Time of implementation: After the State Securities Commission approves the Company’s documents
Article 2: The new shares will be deposited at the Vietnam Securities Depository and listed on the Hochiminh Stock Exchange after the issuance is completed
Article 3: The Board of Directors authorized the BOD Chairman cum CEO to direct the Company’s related divisions to implement the plans.
HOSE
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