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CLC: Resolution of the BOD
Cat Loi Joint Stock Company announced the resolution of the Board of Directors as follows:
Article 1: The Board of Directors approved for reports:
Report of Board of Directors on profit and loss in 2011, and business plan for 2012.
Report of Board of Directors on management business in 2011.
Report of the Board of Supervisors in 2011.
Article 2: The Board of Directors approved for the audited financial statements in fiscal year 2011 with result business.
Total revenue: 1,535,217,890,386 dongs
In which:
Revenue from selling and service supply: 1,526,330,133,186 dongs
Revenue from financial: 7,757,795,307 dongs
Other revenue: 1,129,961,893 dongs
Profit before tax: 65,401,563,370 dongs
Profit after tax: 60,096,147,138 dongs
Article 3: The Board of Directors Approval for the 2011 profit distribution, funds distribution and dividend.
Profit after tax: 60,096,147,138 dongs
Retained earnings in 2011 (gain from unrealised foreign exchange): 930,601,773 dongs
Profit distribution in 2011: 59,165,545,365 dongs
Funds distribution in 2011: 25,969,877,396 dongs
In which:
+ Financial reserve fund (10% of profit after tax): 5,916,555,000 dongs
+ Reserve fund for charter capital (5% of profit after tax): 2,958,277,000 dongs
+ Investment and development fund:
* Income tax was decreased: 5,945,246,396 dongs
* Additional distribution (8% of profit after tax): 4,733,244,000 dongs
+ Bonus and welfare fund (10% of profit after tax): 5,916,555,000 dongs
+ Bonus of Board of Directors fund: 500,000,000 dongs
Dividend payment 2011 in cash ( 25% of charter capital): 32,759,575,000 dongs
+ Dividend advance payment the fist in 2011 (10% of charter capital) : 13,103,830,000 dongs.
+ Dividend additional payment in 2011 (15% of charter capital): 19,655,745,000 dongs.
Retained earnings in 2011: 1,366,694,742 dongs
(Gain from unrealised foreign exchange: 930,601,773 dongs)
Article 4: The Board of Directors Approval for business plan for 2012:
Total revenue: 1,580 billion dongs
Profit before tax: 60 billion dongs
Article 5: The Board of Directors Approval for dividend plan for 2012:
Estimated dividend pay-out ratio: 20 %/ charter capital
Dividend payment in cash or in stock
Authorized the Board of Directors to resolve dividend payment
Article 6: Approval for remuneration of the Board of Directors and the Board of Supervisors in 2011: 342,055,556 dongs.
Article 7: Approval for remuneration of the Board of Directors, the Board of Supervisors in 2012:
- A Member of the Director Board who does not directly work in the Company will be received 10,000,000 dongs/members/ month (after personal income tax).
- A Member of the Supervisory Board who does not directly work in the Company will be received 8,000,000 dongs/members/ month (after personal income tax).
- A Board of member who directly work in the Company will be received wages according to statustory regulation .
Article 8: Approval for Choosing UHY auditing firm for fiscal year 2012.
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