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INN: Results of Annual General Meeting of Shareholders 2012
Agriculture printing & packaging JSC has disclosed the results of its Annual General Meeting of Shareholders held on 25/03/2011. The following resolutions were approved:
1. The BOD’s report on operating result in 2011
- Total revenue: VND 324,718,581,462
- Profit before tax: VND 22,844,022,799
- Dividend payment ratio: 20% of charter captal
2. Report of Supervisory Board 2011
3. Profit distribution of 2011
- Dividend payment ratio: 20%/year/charter capital
- Financial reserve fund: 5% of profit after tax
- Welfare and bonus fund: 5% of profit after tax
- In case of over plan, bonus fund for Management Board is 10% of extra plan profit.
- Setting up investment and development fund: the remainning of profit after tax
4. Operating plan of 2012
- Revenue: From VND 350 billion to VND 370 billion
- Profit before tax: From VND 21 billion to VND 22 billion
- Dividend payment: 16%/year/charter capital
- Setting up financial reserve fund, investment and development fund, welfare and bonus fund based on the Company’s Charter
5. Increasing charter capital from VND 54 billion to VND 81 billion by mobilizing capital from oustanding shareholders aimed at investing in APP Packing Company Limited in Hung Yen
- Total capital mobilized will be converted into stock with price of VND 10,000/share
- Exercise rate: 2:1 (shareholder will contribute 1 share for every 2 shares they own)
- Interest of the capital is based on annual dividend payment rate of the Company
- The capital won’t be allowed to withdraw and transfer to other people
- Expected time: In early June 2012
6. Chair of the BOD also hold General Manger of the Company
7. The BOD is assigned to select auditor for Financial Statement 2012
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