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LHG: Resolution of the Board of Directors
Long Hau Corporation (HOSE: LHG) announced a resolution of the Board of Directors on November 03, 2011:
The BOD decided to continue to issue shares to ESOP:
- Objects: Member of the Board of Directors, the Supervisory Board, The Board of Director
- Offering price: VND10,000/share
- Offering volume: 999,000 shares
- Time of implementation: Year 2011 after the SSC approval
- Total value: VND9,990,000,000
- Transference restriction in three years:
• After one year as from issuance: 40% of paid shares will be transferred.
• After two year as from issuance, the employee will be allowed to continue transferring 30% of paid share
• After third year as from issuance, the employee will be allowed to continue transferring 30% of the remains
The Board of Directors approved that the price of stock offered to strategic partner(s) would not be lower than VND25,000/share
The Board of Directors approved the issue of bonus shares to the existing shareholders
In the issue of bonus shares to the existing shareholders: The Board of Directors unanimously decided that The bonus shares will be rounded to units, the odd shares (If any) would be cancelled, not continued distributing.
This resolution is valid as from November 03, 2011.
HOSE
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