HRC: Horuco announces Board Resolution No.580

Hoa Binh Rubber Joint Stock Company (HORUCO) announced Board Resolution No.580 dated May 13, 2013. Accordingly, the Board of Directors approved to decrease the beginning price and change the selling method in the second liquidation of rubber trees in 2013 as follows:

1.       Area, number of trees, volume of timber, firewood and price unit:

-         Area of liquidation for the second liquidation: 408.7155 hectares.

-         Number of trees: 111,628 trees.

-         Volume of timber: 36,610 ster

-         Volume of firewood: 29,164 ster

-         Trees with diameter ≤ 30 cm: 707 trees

-         Average price unit:

+         Timber: VND 740,000/ster

+         Firewood: VND 180,000/ster

+         Trees (≤ 30 cm): VND 40,000/tree

-         The new price units decreased by 10% compared to the beginning prices in the first auction.

-         Total value of beginning price adjusted: VND 32,368,921,527.

-         Average price: VND 79,196,707/ hectare; VND 289,971/tree.

2.       Selling method:

-         Public auction (29.4%): 120.1545 hectares.

-         Sale to the wood processing enterprises in the Group: 288.5610 hectares.

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