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MCF: Board Resolution
Mechanics Construction and Foodstuff JSC announces Board Resolution approved on 04/01/2012 as follows:
1. Paying dividend in advance for 2011 (first round)
- Exercise rate: 100:22 (shareholders will receive 22 shares for every 100 shares they own)
- Plan for handling odd shares (if any)
- Odd shares will be distributed to the Company’s labor union and the Company’s labor union will pay in cash for shareholders.
- For example: If shareholder A owns 173 shares on the record date, shareholder A is entitled to receive (173*22)/100=38.06 shares. In fact, shareholder A will receive 38 shares and 0.06 share will be distributed to the Company’s Labor Union with price of VND 10,000/share x0.06 share=VND 600. Therefore, shareholder A will receive 38 shares and VND 600.
2. Offering shares to outstanding shareholders
- Number of shares to be issued: VND 3,730,000 shares
- Issuing price: VND 10,000/share
- Exercise rate: 1:1.0657 (shareholders are entitled to purchase 1 .0657 share for each share they own)
- Odd share will be rounded down to unit digit.
- Handling odd lot shares and undistributed shares:
- Odd shares and undistributed shares will be offered to other shareholders or other investors with price not lower than par value of VND 10,000/share
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