Saturday, 25/01/2014 17:36

PMS: Report of use of proceeds


On 16/01/2014, Petroleum Mechanical Stock Company announced report of use of proceeds from the share issue as follows:

I. Total proceeds from the issue

- Type of share: Common share;

- Par value: VND 10,000

- Number of shares to be issued: 2,027,662 shares

- Proceeds from the issue: VND 20,276,620,000

II. Report of use of proceeds

1. Purpose of the issue

Invest in and purchase some assets such as: Deploy project in Binh Duong; Improve, repair equipment and machines, purchase 02 more petrol stations, etc.

2. Use of proceeds:

- Until 31/12/2013, proceeds from the issue were not used in accordance with purpose of the issue. Based on General Mandate dated 30/03/2013, PMS agreed to select and invest in 02 new petrol stations.

- Currently the Company could not find any petrol station with favorable place to get high profit; so the Company is planning to propose AGM 2013 to change purpose of the proceeds.

HNX

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