GMD: SSC approves to issue new shares

On April 16, 2013, the State Securities Commission (SSC) agreed its plan to issue new shares to its employees in the Employee Stock Purchase Plan (ESPP) of Gemadept Corporation as follows:

1.       Stock: Stock of Gemadept Corporation

2.       Stock type: common stock (restricted stock)      

3.       Par value: VND10,000/share

4.       Transfer restriction: 100% of purchased shares will be restricted to transfer within 02 years from the issue date. The next two year, holders are allowed to transfer 50% of purchased shares in each year.

5.       Total shares: 1,690,960 shares (1.5% its current charter capital)

6.       Issue price: VND10,000/share

7.       Total value: VND16,909,600,000

8.       Objects:

-         Time to pay to buy new shares: from April 17, 2013 to April 23, 2013

-         Purpose: to fund GMD’s working capital.

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