Wednesday, 08/01/2014 17:23

ITA: The BOD’s resolution approves a private placement

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

-         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.

HOSE

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