REE: Resolution of Annual General Meeting 2013

Refrigeration Electrical Engineering Corporation (REE) announced the resolution of Annual General Meeting of Fiscal Year 2013:

RESOLVED

Article 1: AGM approved profit and loss in 2013 and targets in 2014:

-  Profit and loss in 2013:

Net revenue	VND2,413billion
Profit after tax	VND976 billion

 

-  Business targets in 2014:

Net revenue	VND2,654 billion
Profit after tax	VND892 billion

Article 2:  AGM approved report of the Board of Supervisors on the Company’s operations in 2013.

Article 3: AGM approved to issue the Employee Stock Ownership Plan (ESOP):

-  Stock type: common stock

-  Par value: VND10,000/share

-  Total number of issued shares: 1,965,154 shares

-  Purpose: Issue ESOP and creasing charter capital

-  Time of implementation: expected in 2014

-  AGM authorized the BOD to implement.

Article 4: AGM approved profit distribution in 2013 and dividend plan for 2014:

Unit: VND

- Profit after tax of 2013	975,819,282,949
-Profit from joint – ventures of 2012	112,483,149,600
- Deduction: profit from joint-ventures of 2013	-428,675,939,326
- Distributed profit of 2013	659,626,493,223

-  Profit distribution of 2013:

Unit: VND

- Financial reserve fund (5% undistributed profit)	32,981,324,661
- Welfare fund	3,373,575,800
- Dividend of 2013: 16%/equity capital, in cash	421,893,820,800
-Issue ESOP	19,651,540,000
- Remaining profit	497,919,021,688

-  Dividend payment in 2013:

·         In 2013, the dividend payment rate was 16% of charter capital in cash (VND421,893,820,800) on March 31, 2014.

·         Record date: February 21, 2014

·         AGM authorized the BOD to resolve the 2014 dividend ratio  but not less than 12% of charter capital.

Article 5: AGM approved to increase charter capital:

-  Current charter capital: VND2,636,863,850,000

-  Charter capital after increasing: VND2,719,651,753,636

Article 6: AGM approved to amending the Articles of Association.

Article 7: AGM approved allowances of the Board of Directors, the Board of Supervisors in 2013 and 2014:

-  Allowances for the Board of Directors, the Board of Supervisors in 2013:

-  Profit after tax in 2013: VND975.75 billion

-  Allowances for the Board of Directors, the Board of Supervisors: 975.75 x 0.5% = VND4.88 billion

-  Allowances for the Board of Directors, the Board of Supervisors if REE has profit in 2014: VND3,249,600,000

-  Bonus policy for the Director General and directors: 15%/exceeded profit after tax.

Article 8: The AGM approved Ms. Nguyen thi Mai Thanh, the BOD Chairwoman would concurrently hold the position of Director General in 2014.

HOSE

>   SCD: Resolution of AGM 2014 (01/04/2014)

>   VNF: Financial Statement FY 2013 (holding company) (01/04/2014)

>   V21: Financial Statement FY 2013 (01/04/2014)

>   HMH: Financial Statement FY 2013 (holding company) (01/04/2014)

>   SMC: Resolution of general meeting of shareholders (01/04/2014)

>   KSH: Extension of the submission date for the 2014 annual general meeting (01/04/2014)

>   FDG: Extension of the submission date for the audited financial statements (01/04/2014)

>   ABT: Resolution of Annual General Meeting 2014 (01/04/2014)

>   PVD: Explanation for consolidated financial statements in 2013 (01/04/2014)

>   BVH: Explanation for consolidated financial statements in 2013 (01/04/2014)