Tan Dai Hung Plastic Joint Stock Company announced Board Resolution No.7 dated September 07, 2012 as follows:
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Because Dai Hung Co., Ltd. has not finished legal procedures
to separate the land use rights and completed construction of works, so it
cannot implement procedures to transfer land use rights and works on those
areas to Tan Dai Hung Plastic Joint Stock Company. Therefore, the two parties
agreed to cancel the construction agreement dated April 26, 2011 worth VND150
billion (not including VAT) about the transfer of land use right and works at
Lot C11-C15, Duc Hoa Plastic Industrial Zone, Duc Hoa district, Long An
province.
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Dai Hung Co., Ltd. will continue to transfer land use rights
to Tan Dai Hung Plastic Joint Stock Company at the same price in the old
agreement after fulfilling procedures.
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Dai Hung Co., Ltd. must take full legal and economic responsibility.
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Tan Dai Hung Co., Ltd., a subsidiary of Tan Dai Hung Plastic
Joint Stock Company, continues hiring workshop of Dai Hung Co., Ltd. at Lot
C11-C15, Duc Hoa Plastic Industrial Zone, Duc Hoa district, Long An province in
order to ensure business operations.
