PVD: PV Drilling Corp to issue new shares to pay dividends

Petrovietnam Drilling & Well Service Corporation (PV DRILLING CORP) planned to issue more than 25 million shares to pay dividends as follows:

-         Stock name: Stock of Petrovietnam Drilling & Well Service Corporation

-         Total number of shares: 250,508,215 shares

-         Number of treasury shares: 270,580 shares

-         Number of outstanding shares: 250,237,635 shares

-         Number of shares estimated to be issued: 25,023,763 shares

-         Issue value: VND250,237,630,000.

-         Issue ratio (Number of shares estimated to be issued/ Total number of shares): 10%

-         Financial resource: Undistributed after-tax profit.

-         Record date: December 04, 2013

-         Plan to deal with fractional shares: The distributed shares will be rounded down. The fractional shares will be cancelled.

For example, shareholder A owning 102 shares on the record date. With an exercise ratio of 10:1, he will receive: 102 * 10% = 10.2 new shares. However, because the distributed shares will be rounded down, in fact he will receive only 10 new shares. And, 0.2 share will be cancelled.

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