Thac Mo Hydro Power Joint Stock Company announced the resolution of Annual General Meeting 2012, organized on May 10, 2012:
Article 1: Approving the financial report of 2011
and business plan for 2012, with main figures:
1. Profit and loss in 2011:
-
Electricity production: 626.00
million kWh
-
Total revenue: VND 387.27 billion
-
Profit before tax: VND 99.48 billion
-
Profit after tax: VND 74.61 billion
2. Business plan for 2012:
-
Electricity production: 751.00
million kWh
-
Total revenue: VND 357.37 billion
-
(Temporarily calculated with a price equal to 80% of
electricity price in 2011 (VND474.416/kWh))
-
Total operating cost: VND
302.89 billion
-
Profit before tax: VND 54.48 billion
-
Profit after tax: VND 40.86 billion
-
Estimated dividend: 4%
-
The revenue, profit and dividend targets will be adjusted
after the Company has an official selling electricity price.
-
Investment & development plan: VND 16.20 billion
-
Construction: VND 68 billion
Article 2: Approving the 2011 audited financial
statements, including basic items as follows:
1. Total assets at December 31, 2011: VND
1,323.345 billion
In which: - Current assets: VND
288.653 billion
-
Long-term assets: VND 1,034.692 billion
2. Total liabilities at December 31, 2011: VND 1,323.345 billion
In which: - Liabilities: VND
512.383 billion
- Owner’s equity: VND 810.962 billion
Article 3: Approving the report of the Board of
Directors on the company management in 2011.
Article 4: Approving the report of the Board of
Supervisors on the verification of business reports, financial reports in
2011.
Article 5: Approving the profit distribution and
dividend payment plans in 2011:
-
Profit distribution plans:
+
Profit after tax: VND
74,481,854,071
+
Dividend payment: VND
56,000,000,000
+
Financial reserve fund: VND
3,724,092,704
+
Investment & development fund: VND 9,433,562,367
+
Bonus & welfare fund: VND
4,824,199,000
+
Bonus for the Managing Board: VND 500,000,000
-
Dividend payment plan:
+
Payment ratio: 8%/par value
+
Total paid dividend: VND56,000,000,000.
+
Payment method: in cash or transfer.
Article 6: Approving reports on wage and remuneration
of the Board of Directors, the Board of Supervisors in 2011, and a plan to pay
wage and remuneration to the Board of Directors, the Board of Supervisors in
2012 as follows:
-
Total wage and remuneration of the Board of Directors and
the Board of Supervisors in 2011: VND 635,200,000.
-
Total wage and remuneration of the Board of Directors and
the Board of Supervisors in 2012: VND 1,027,681,000.
Article 7: Choosing UHY Audit
and Advisory Services Limited as the auditing firm for Thac Mo Hydro
Power Joint Stock Company in 2012.
Article 8: Approving that the BOD Chairman
concurrently holds the post of CEO in 2012.
Article 9: Approving adjustments in the Company’s
Charter: Item 8 – Article 21.
Article 10: Approving the document on expanding Thac
Mo Hydro Power Plant.
Article 11: This resolution takes effect as of May 10,
2012.
