The shareholders of Dong A Plastic Group JSC has approved the issue of VND53.5 billion convertible bonds to strategic partners. Therefore, Dong A Plastic Group JSC announces the resolution of general shareholders’ meeting dated November 20, 2012, as follows:
Bond name: Convertible bond of Dong A Plastic Group JSC
Bond type: convertible bond
Currency unit: VND
Par value: VND500,000,000/ bond
Issue form: book-entry
Bond term: 03 years
Interest rate: 3% less than the basic rate regulated by the Vietnam
State Bank and at least 3%.
Issue time: in Quarter IV/2012.
Issue volume: VND53,500,000,000.
Issue method: via a private placement
Interest payment:
Interest will be paid every six months from the issue date.
The interest rate will be adjusted every three months.
Transfer restriction term: in the first year from the issue date,
bondholders have no rights to transfer bonds to other investors, except
professional securities investors.
Conversion method:
Conversion time:
Bondholders can convert a maximum of 50% bonds into shares after 01 year
since the issue is finished.
The remaining bonds will be converted after 03 years since the issue is
finished.
Conversion ratio: 01 bond (par value: VND500,000/bond) will be converted
into 37,037 shares (par value:VND10,000/share). Therefore the conversion price
will be VND13,500/share.
Adjustment of conversion price: the conversion price will be adjusted
when Dong A Plastic Group issues new shares.
The adjusted conversion price will be calculated as follows:
|
(Outstanding shares x Conversion price) + (New shares x Price of new
shares)
|
|
Outstanding shares + New shares
|
In case dividends are paid by shares, the price of new shares will be
calculated as zero.
Purpose of use of the proceeds from the bond offering: to enhance the
production capacity of Profile Bar to at least two times more than the current
capacity. This is one of three products of Project “Capacity expansion and new
investment in DAG’s factory in Chau Son – Phu Ly – Ha Nam Industrial Zone”,
which was approved by the Board of Directors on January 06, 2012.
