ASP: Board Resolution on a Stock Issuance

An Pha Petroleum Group Joint Stock Company announced a board resolution dated June 30, 2014:

Article 1: The Board of Directors approved a plan to issue shares as follows:

-         Offering volume: 14,670,000 shares

-         Par value: VND10,000/share

-         Stock type: common stock restricted from transfer in 01 year from the finish date of the share offering.

-         Offering price: VND10,000/share  

-         List of investors:

No.	Investor	Number of shares estimated to be offerred
1	Saisan Joint Stock Company	13,500,000
2	Dinh Ngoc Hai	1,170,000

-         Time of implementation: after the State Securities Commission approved the share offering, estimated in July 2014.

-         Purpose:

·         To restructure the Company’s working capital;

·         To develop residential gas system;

·         To develop gas business in industrial and transportation

·         Sectors;

·         To invest and cooperate in gas production and storage. 

Article 2: The Board of Directors approved the change in registration and additional listing of new shares according to the offering result.

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