On March 19, 2013, Cotec Construction Joint Stock Company (Coteccons) announced resolution of the Board of Directors as follows:
Article 1:
The Board of Directors approved to raise the firm’s holding in its two associated companies:
1. Shares of Phu Hung Gia Construction Investment
JSC
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Volume to buy : 3,500,000 shares
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Par value : VND10,000/share
-
Buying of price : expected at VND23,700/share
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Stock type :
common stock
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Total value :
VND35,000,000,000
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Expected buying
period: in Quater I or Quater II/2013.
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Shares will be transferred after
2 years from the finish day.
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Holding ratio of Coteccons in Phu Hung Gia Construction
Investment JSC after buying: 40.85%.
2. Shares of Uy Nam Construction Investment JSC.
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Volume to buy : 2,640,000 shares
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Par value : VND10,000/share
-
Buying of price: expected at VND34,032/share
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Stock type :
common stock
-
Total value :
VND26,400,000,000
-
Expected buying
period: in Quater I or Quater II/2013.
-
Shares will be transferred after
2 years from the finish day.
-
Holding ratio of Coteccons in Uy Nam Construction Investment
JSC
after buying: 51%.
Article 2: Plan
to deal with the number of shares which have not been bought enough yet:
About the ratio of 10.15% that Coteccons needs to buy to reach the
holding of 51% in Phu Hung Gia, the Board of Directors will continue
negotiating to buy within 06 months from March 19, 2013.
Article 3:
This resolution takes effect from March 19, 2013.
