CDC: Resolution of Annual General Meeting 2014

Chuong Duong Corporation announced the resolution of the 2014 annual general meeting dated June 24, 2014 as follows:

Article 1: AGM approved business result in 2013 and the business plan for 2014:

1)     Business result in 2013:

By: Million VND

No.		Plan for 2013	Reality in 2013	Difference (%)
1	Production	320,000	243,243	76%
2	Revenue	280,000	189,644	68%
3	Profit before tax	10,000	2,832	28%
4	Total value for investment & development	65,000	35,000	54%

2)     Business plan for 2014:

By: Million VND

No.		Plan for 2014	Growth rate compared to 2013 (%)
1	Production	320,000	31.5%
2	Revenue	280,000	47.6%
3	Profit before tax	10,000	253%
4	Total value for investment & development	90,000	157%
5	Dividend	5%

Article 2: AGM approved the report of the Board of Directors.

Article 3: AGM approved the report of Board of Supervisors.

Article 4: AGM approved the 2013 audited financial statements; the 2013 profit distribution plan:

By: VND

No.	Item	Amount	Note
1	Profit before tax	2,832,983,171
2	Funds distribution:
	Financial reserve fund (2.5%)	53,135,387
	Bonus and welfare fund (5%)	106,270,770
	Investment and development fund (3%)	63,762,464
3	Remaining profit	1,902,246,852	Added to the Company’s current capital.

Article 5: AGM approved a plan to pay dividends of 2011:

-  Old dividend payment plan(according to the resolution of AGM 2011): 10% in cash (= VND1,000/share).

-  New dividend payment plan: 5% in cash (paid) and 5% in stock. 5% in stock will be executed in 2014. 

Article 6: AGM approved remuneration of the Board of Directors, the Board of Supervisors in 2014:

-  BOD Chairman: VND5,000,000/month

-  Deputy Chairman & Head of the Board of Supervisors: VND4,000,000/month

-  BOD Member: VND3,000,000/month

-  Member of the Board of Supervisors & Secretary of the Board of Directors: VND2,000,000/month

-  Staff responsible for information disclosure: VND1,000,000/month.

Article 7: AGM approved to choose auditing firms for fiscal year 2014: AVA and CPA.

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

Article 9: AGM approved the election result of the Board of Supervisors for the second term (2014 – 2019):

Member of the Board of Supervisors:

-  Mr. Pham Huu Hoa

-  Mr. Dang Cong Danh

-  Ms. Nguyen Thi Ngoc Dung

Article 10: AGM approved to elect Mr. Tran Mai Cuong, BOD Chairman, concurrently as CEO.

HOSE

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