TV1: Resolution of AGM 2014

Power Engineering Consulting Joint Stock Company 1 announced the resolution of the 2014 annual general meeting dated April 25, 2014:

Article 1: AGM approved reports:

–     Report of the Board of Directors.

–     The audited financial statements.

–     Report of the Board of Supervisors.

–     Report of the development plan.

Article 2: AGM approved business result in 2013:

–     Revenue in 2013 increased 10.2% compared to plan of 2013 and increasing 14.3% compared to 2012.

–     Profit before tax in 2013 increased 1.8% compared to plan of 2013 and increasing 29.2% compared to 2012.

–     Dividend in 2013 increased 6.7% compared to plan of 2013 and increasing 33.3% compared to 2012.

By: dongs

	Plan for 2013	Reality in 2013	Reality/ Plan (%)
Total revenue	500,000,000,000	550,765,417,886	110.2%
Total cost		496,790,267,623
Total profit before tax	53,000,000,000	53,975,150,263	101.8%
Profit after tax		39,342,669,630
Dividend pay-out ratio	15%	16%	106.7%
Dividend (charter capital: VND230,105,360,000)		36,816,860,000

Article 3: AGM approved business plan for 2014:

By: billion dongs

	Plan for 2014
Total revenue	500,200
Total cost	440,200
ROE
Total profit before tax	60,000
Equity	284,288
Investment capital of owners	266,922
Investment & development fund	17,366
Dividend (charter capital: VND266,922,220,000)	15%

Article 4: AGM approved UHY auditing firm for fiscal year 2014.

Article 5: AGM approved to pay for the 2013 dividend

–     The 2013 dividend: 16%

–     Sources financial: Profit after tax

	Value (dongs)	Note
Profit after tax	39,342,669,630	Charter capital: VND230,105,360,000
Dividend	36,816,860,000	Dividend: 16%
Remaining profit distributed funds	2,525,809,630

–     The 2013 dividend: VND36,816,860,000; 3,861,686 shares; Par value: VND10,000/share.

–     Authorizing the BOD to choose payment date and recorded date in 2014.

Article 6: AGM approved to issue shares to pay dividends for increasing charter capital

o    Number of shares estimated to be issued: 3,681,686 shares

–     Par value: VND10,000/share

–     Total value: VND36,816,860,000

–     Object of the issuance: existing shareholders named in the list at record date

–     Exercise ratio: 16/100%

–     (The one who owns 100 shares at the record date will receive 16 new shares).

–     Sources financial: Profit after tax in 2013

–     The distributed shares will be rounded down. The fractional shares will be buy back to  treasury shares with price VND10,000/share.

–     Increasing charter capital from VND230,105,360,000 to VND266,922,220,000.

Article 7: AGM approved remuneration of the Board of Directors, the Board of Supervisors in 2013 and payment plan for 2014:

–     Remuneration of the Board of Directors, the Board of Supervisors in 2013:

–     Chairman of the BOD:  VND276.073 million dongs

–     The Board of Directors: 360 million dongs

–     The Board of Supervisors: 108 million dongs

–     Remuneration of the Board of Directors, the Board of Supervisors in 2014:

–     The Board of Directors: 1,782 million dongs

–     Member of the BOD who does not directly work in the Company: 72 million dongs

–     The Board of Supervisors: 120 million dongs

Article 8: AGM approved to amend the Articles of Association.

Article 9: This resolution takes effect from April 25, 2014.

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