Tan Tao Investment and Industry Corporation (ITACO) discloses the BOD’s resolution of a private placement for its offset against debts as follows:
Article 1: Approves of
implementing the private placement plan passed by the 2013 annual shareholder
meeting on 26 Apr. 2013:
-
Issuance:
+
Stock name: stock of Tan Tao Investment and Industry
Corporation
+
Stock type: common stock
+
Par value: VND10,000/share
+
Offering volume: 100,000,000 shares
+
Total value on par value: estimated 1,000,000,000 dongs
-
Objects, issuance method & transference condition:
+
Objects: ITACO plans to implement the private placement for
its offset against debts with the investors as below:
|
No.
|
Investors
|
Offering volumes
|
Total value on par
value
|
|
1
|
Tan Tao Group JSC
(*)
|
69,194,503
|
691,945,030,000
|
|
2
|
Tan Tao
Infrastructure Development JSC. (*)
|
28,083,009
|
280,830,090,000
|
|
3
|
Ms. Vu Thi Nga
|
2,722,488
|
27,224,880,000
|
|
|
Total
|
100,000,000
|
1,000,000,000,000
|
(*) temporary translation
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Issuance method: private placement
-
Transference condition: transfer-restricted in one year from
the issuance closes.
-
Purpose: offset against debts - ITACO shifts a part of
current debts of above investors to share ownership.
-
The issue price equals in average close prices in 05
consecutive sessions before the date of offset against debts and will be
rounded to hundredths.
-
The date of offset against debts is date when SSC approves
the private placement for the offset against debts.
-
The maximum issue price is 10,000 dongs/share and ITACO will
use the share premium for difference to par value when the issue price is under
par value.
-
When ITACO gets the SSC’s approval, they will inform the
details to the investors.
-
Interest from these shares:
+
Dividend: investors will get their dividend or bonus shares
on these shares as the common shares in case the shares will be recorded at
VSD.
+
Depository: the investors are allowed to record these shares
under the Law.
+
Issue time: expected in quarter 1/2014
Article 2: Approves of
conclusion of the offset against debts minute with the investors.
Article 3: The resolution is
effective as of 02 Jan. 2014.
