Kinh Bac City Development Share Holding Corporation announced the resolution of Annual General Meeting 2012 dated April 27, 2012 as follows:
Article
1: Approved the profit
and loss in 2011 and the business plan for 2012:
* Business plan for 2012:
-
Plan
1: Economic conditions are difficult:
+
Total
revenue: VND1,000 billion
+
Total
profit after tax: VND200 billion
-
Plan
2: Economic conditions are good:
+
Total
revenue: from VND1,500 billion to VND2,000 billion
+
Total
profit after tax: VND500 billion to VND70 billion.
Article
2: Approved the
report of the Board of Directors in 2011 and the business plan for 2012
Article
3: Approved the
report of the Board of Supervisors in 2011
Article
4: Approved the
consolidated financial statements in 2011 and the financial statements in 2011,
which were audited by Ernst & Young.
Article
5: Approved the
undistributed earnings until December 31, 2011 for re-investment.
-
Business
results according the consolidated financial statements:
+
Total
revenue from business activities in 2011: VND899,373,764,203
+
Profit
after tax in 2011: VND84,347,829,828
+
In
which: Profit after tax of parent company: VND40,989,979,050
-
Business
results according single-entity financial statements:
+
Total
revenue from business activities in 2011: VND383,140,525,149
+
Profit
after tax in 2011:
-VND52,119,804,004
+
Undistributed
earnings:
VND318,250,853,072
-
The
Meeting unanimously approved undistributed earnings for re-investment to the
increase ability to financial, supplementing the company’s working capital. The
Meeting authorized the BOD to decide the use of undistributed profit to
investment plan.
Article 6: Approved to choose an auditing company: the Meeting authorized the Board of
Directors to choose one of three companies in the list of independent auditing
companies below:
+
AISC
+
E&Y
+
KPGM
-
If
the Company can not negotiate with auditing company about the rate of progress
and the auditing fee, the Meeting will authorize the Board of Directors to
choose one of remaining companies in the list of independent auditing companies
by the SSC for approval.
Article
7: Approve the
result of the private placement and the plan 2012:
-
The
Meeting authorized the BOD to continue to a private placement:
+
Stock
type: common stock
+
Par
value: VND10,000/share
+
Offering
volume: 20,000,000 shares
+
Offering
value: VND200,000,000,000
+
Offering
method: a private offer (under 100 investors)
+
Offering
price: authorized the BOD to decide.
+
Objects:
authorized the BOD to decide.
-
Transfer
restriction: the new shares will be restricted from transfer within 01 year
from the finish date of this offering. The Meeting authorized the BOD to decide
the time of transfer restriction.
-
Plan
to use the proceeds from the offering: total proceeds will be used to supplementing
the company’s working capital.
-
Listing
stock: After the offer is completed, the company will implement necessary
procedures to deposit and list the new shares on the Hochiminh Stock Exchange
and Vietnam Securities Depository.
-
Time
of implementation: authorized the BOD to choose an appropriate time to issue
shares.
Article
8: Amending the
company’s regulation.
Article
9: Approved the
appointment of the BOD in term 2012-2017:
* The
Meeting unanimously approved contents as follows:
-
Total
number of the BOD in term 2012-2017: 05 persons
-
List
of the Board of Directors:
+
Mr.
Dang Thanh Tam
+
Mr.
Chung Tri Phong
+
Ms.
Nguyen Thi Thu Huong
+
Mr.
Ngo Manh Hung
+
Ms.
Dang Thi Hoang Phuong
Article
10: Approved the
appointment of the Board of Supervisors in term 2012-2017:
* The Meeting unanimously approved contents
as follows:
-
Total
number of the Board of Supervisors in term 2012-2017: 03 persons
+
List
of Board of Supervisors:
+
Ms.
Nguyen Chung Thuy
+
Mr.
Bui Ngoc Quan
+
Ms.
Le Thi Thu Hang
Article
11: Approved the
plurality of the BOD Chairman and Director General.
Article
12: This resolution
takes effect from April 27, 2012.
