SMC: Resolution of Annual General Meeting 2012

SMC Investment - Trading Joint Stock Company announced the resolution of Annual General Meeting 2012 as follows:

Article 1: The General Meeting unanimously approved the report business results in 2011

-          Production of steel: 562,505 tons

-          Total revenue: 8,940 billion dongs

-          Profit after tax: 73.12 billion dongs

-          Production of cement consumption: 145,103 tons

Article 2: The General Meeting unanimously approved the report of the Board of Supervisors.

Article 3: The General Meeting unanimously approved financial statements, profit distribution and allowances of the Board of Directors and the Board of Supervisors.

Article 4: The General Meeting unanimously approved business targets and investment plans in 2012 of the Board of Directors:

-          Production of steel: 600,000 tons

-          Total revenue: VND 9,800 billion

-          Profit before tax: VND 80 billion

-          Profit after tax: VND90 billion

-          Depreciation: VND 35 billion

-          Production of cement consumption: 200,000 tons

Article 5: The General Meeting unanimously approved the appointment Mr. Nguyen Ngoc Anh - the BOD Chairman would concurrently hold the position of Director General in term 2012-2013.

Article 6: The General Meeting unanimously approved allowances for the Board of Directors and the Board of Supervisors:

The Meeting approved to maintain 1.5% of profit after tax to pay allowances for the Board of Directors and the Board of Supervisors in 2012.

Article 7: The General Meeting unanimously approved to authorize the Board of Directors to choose an auditing company for financial statements in 2012.

Article 8: The General Meeting unanimously approved to pay the 2011 dividend with ratios: 15% at least in cash.

Article 9: The General Meeting unanimously approved the adjustment of the company’s regulation.

Article 10: The General Meeting unanimously approved the investment to Coil Center processing and operation factory at HCMC. Total investment expected about VND100 billion, size from 10,000 m2 to 15,000 m2. The General Meeting authorized the Board of Directors to implement while favorable condition.

Article 11: The General Meeting unanimously approved to increase the number of members of the Board of Directors

Article 12: The General Meeting authorized the Board of Directors to implement the approved issues.

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