CCI: Resolution of Annual General Meeting 2014

Cuchi Commercial And Industrial Developing Investment Joint Stock Company announced the resolution of 2014 Annual General Meeting (AGM) dated March 29, 2014 as follows:

Article 1:

1. The AGM approved the 2013 income report and the 2014 business plan.

-  Income report in 2013 (audited):

·         Total revenue: VND 456,390,273,942

·         Total expenses: VND 435,470,985,738

·         Profit before tax: VND 20,919,288,204

·         Corporate income tax: VND 5,129,418,867

·         Profit after tax: VND 15,789,869,337

·         Dividend: VND 11,183,060,918

·         Charter capital: VND 133,986,200,000

·         Ratio of Dividend to Charter capital:             8.35%

-  Business plan for 2014:

·         Total revenue: VND 528.000 billion

·         Total expenses: VND 504.659 billion

·         Profit before tax: VND 23.341 billion

·         Corporate income tax: VND 5.111 billion

·         Profit after tax: VND 18.230 billion

·         Charter capital: VND 133.986 billion

·         Dividend: VND 13.399 billion

·         Dividend payment ratio: at least 10%

·         Implement procedures for the feasibility study of projects:

·         Resettlement Project (34.2 hectares);

·         Tan Phu Trung Residential Area Project (43 hectares);

·         Low-income Housing Project;

·         Dinh Kiep Resettlement Area Project (4,422.2 m²). 

2. The AGM approved the report of the Board of Supervisors in 2013
3. The AGM approved the audit report in 2013.
4. The AGM approved the 2013 profit distribution, as follows:

By: VND

No.	Item	Distribution ratio	Amount
	Profit after tax		14,910,747,888
1	Reserve fund	5%	745,537,394
2	Financial reserve fund	5%	745,537,394
3	Bonus fund	10%	1,491,074,788
4	Welfare fund	5%	745,537,394
5	Dividend	75%	11,183,060,918
1	Unpaid dividend for 2012		6,914,388,365
2	Dividend for 2013		11,183,060,918
	Total		18,097,449,283
	- Paid the first interim dividend installment of 2013 (deducted treasury shares: 202,760 shares * VND800 = VND101,380,000)	5%/131,958,600,000	6,597,930,000
	- Paid the second dividend installment of 2013 (deducted treasury shares: 202,760 shares * VND700 = VND141,932,000)	7%/31,958,600,000	9,237,102,000
3	Unpaid dividend for 2013		2,262,417,283

 

5. The AGM approved the using of bonus fund, remuneration of the Board of Directors and social fund in 2013.
6. The AGM approved the establishment of a bonus fund for the Board of Directors in 2014:

-  Increasing unit price of remuneration from VND3 million/01 coefficient to VND4 million/01 coefficient. Time of implementation: from January 01, 2014

-  Bonus fund for the Board of Directors when profit target is completed: 1%/profit after tax.

-  Bonus fund for the Board of Directors when profit target is exceeded: 10%/Profit exceeded.

7. 7The AGM approved that the BOD Chairman will concurrently hold the position of CEO
8. 8The AGM approved to authorize the Board of Directors to choose an audit company for fiscal year 2013.
9. 9The AGM approved the adjustments to the Company’s Regulations.
10. 10The AGM approved the election result of the Board of Directors and the Board of Supervisors in Term III (2013 - 2017):

-  Board of Directors: Mr. Tran Viet Anh

Article 2: This resolution shall take effect from the date of signing - March 29, 2014.

HOSE

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