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Monday, 27/08/2012 17:00

PVC: Report on use of proceeds

Drilling Mud Corporation reports the use of proceeds in the issue to increase charter capital from VND 195.41 billion to VND 350 billion as follows:

1.  Information on the issue:

- Subject of the issue: outstanding sharholders and employees of the Company

- Exercise time: QIV.2010

       2. Total proceeds: VND 154,586,060,000.

           Use of proceeds:

            - Investing in joint-venture:

              + Contributing capital  to Vietnam CNG JSC

              + Supplementing charter capital to subsidiaries

- Investing in industrial projects

- Purchasing materials

- Supplementing working capital

3. Realized result:

- Project on building starch factory in Dung Quat economic zone: VND 209,000,000

+ Total value disbursed: VND 29,659,000,000

- Total remaining proceeds: VND 4,248,000,000

- Reason for not using all proceeds: the Company has finished procedures to settle for the project.

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