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VSI: Resolution of the BOD
Water Supply Sewerage Construction and Investment JSC (HOSE: VSI) announced the resolution of the Board of Directors dated October 08, 2011:
Article 1: The Board of Directors approved the plan for raising funds from the secondary investor by transferring the land use right with the infrastructure of office and apartment building of Project “WASECO Office and Apartment Area at 93 Le Loi, Ward 6, Vung Tau City” to the secondary investor Vungtau - Saigon Tourist Trading JSC (*) located at 207 Vo Thi Sau, Thang Tam Ward, Vung Tau City, Ba Ria – Vung Tau Province
Article 2: The main points in the transfer:
Construction scale of the office and apartment building:
- Location: 93 Le Loi, Ward 6, Vung Tau City
- Area: 4,783 square meters. Including:
+ Construction area: 2,250 square meters (47%)
+ Traffic & yard area: 1,863 square meters (39%)
+ Green area: 670 square meters (14%)
Total building floor area: 44,405 square meters
Design content: 01 basement and 18 storeys
Transfer value:
- The transfer price unit is interpreted as the value of land use right and investment right plus infrastructure investment expense until the time of signing of transfer contract, and equal to VND14,000,000/square meter, not including VAT.
- Total transfer value (Total contributed capital), not including VAT is:
4,783 m2 x VND14,000,000 = VND66,962,000,000
Article 3: The Board of Directors authorized the CEO to negotiate and sign a contract with Vungtau - Saigon Tourist Trading JSC.
(*) The company name is temporarily translated.
HOSE
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