Kinh Bac City Development Share Holding Corporation announced the resolution of the general meeting of shareholders, which was adopted in the form of consulting shareholders in writing, as follows:
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Shareholders approved the issuance of 100 million shares,
equivalent to VND1,000 billion, in order to raise the Corporation’s charter
capital.
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Purpose of issuance: to swap debt and to raise the
working capital.
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Plan for issuance:
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Stock: Stock of Kinh Bac City Development Share Holding
Corporation
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Stock type: common stock
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Par value: VND10,000/share
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Offering volume (estimated): 100,000,000 shares
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Offering value: VND1,000,000,000,000.
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Transfer restriction: the new shares will be restricted to
transfer within 01 year from the finish date of issuance.
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Offering method: via a private placement to individual,
institutional investors and the Corporation’s creditors (less than 20
investors).
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Offering price: the Board of Directors was authorized to
negotiate and decide a selling price to each investor. Selling price can be
lower than book value, but at least VND10,000/share.
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Offering time: after completing procedures and the State
Securities Commission approves the offering.
