KDC: Resolution of Annual General Meeting 2014

Kinh Do Corporation announced the resolution of the 2014 annual general meeting on June 27, 2014:

Article 1: The Meeting approved contents of the 2014 AGM.

Article 2: The Meeting approved Business result in 2013:

-         Net revenue: VND4,561 billion

-         Profit before tax: VND619 billion

-         Profit after tax: VND493 billion

-         Total asset: VND6,378 billion

-         Total resources: VND4,882 billion

Article 3: The Meeting approved profit distribution plan in 2013:

Undistributed profit until December 31, 2013:	946,606
The 2013 dividend: 20% in cash	-378,772
Remuneration of the Board of Directors in 2013 (2% of profit after tax)	-9,865
Remuneration of the Board of Supervisors in 2013	-120
Bonus & welfare fund (2% profit after tax)	-9,856
The remain of undistributed profit	548,002

Article 4: The Meeting approved business plan for 2014:

Item	Unit	Reality 2014	% increase
Revenue	Billion dongs	5,150	12.9%
Profit before tax	Billion dongs	660	6.6%

Article 5: The Meeting approved the 2014 dividend:

-         Dividend pay-out ratio: 20%/ par value (VND2,000/ share)

Article 6: The Meeting approved to an auditing firm in 04 auditing firms for audit KDC’s financial statements in 2014.

1)     Ernst &Young Vietnam Co., Ltd

2)     KPMG Vietnam Limited Company (KPMG)  

3)     Deloitte Vietnam Co., Ltd.

4)     Price Waterhouse Coopers Viet Nam Co., Ltd. (PwC)

Article 7: The Meeting approved the result of stock issuance to the Board of Directors, Board of Supervisors and staffs:

-         Number of shares estimated to be issued: 6,500,000 shares (3.88% of charter capital)

-         Issue price: VND18,000/share

-         Stock type: common stock, transfer restrictions

-         Stocks are restricted from transfer within 01 years from Securities Commission receives full profile.

-         Payment time: expected on December 15, 2014.

Article 8: The Meeting approved the result of stock issuance to strategic shareholders

Number of shares estimated to be issued: 40,000,000 shares (18.68% of charter capital)

Issue price: VND44,000/share

Article 9: The Meeting approved to change share issuance plan to existing shareholders:

-         The Meeting approved bonus share issuance to existing shareholders

-         Exercise ratio:   5:1

-         The one who owns 05 shares at the record date will receive 01 new share.

-         The distributed shares will be rounded down. The fractional shares (if any) will be canceled by the Company. 

For example, if shareholder A owns 244 shares on the record date, he will receive 48 new shares (244/5 = 48.8 shares), and 0.8 share will be canceled. 

Article 10: The Meeting approved addition listing and trading of shares of Kinh Do Corporation on HOSE:

-         Additional volume: 42,527,202 shares

Article 11: The Meeting approved the report on internal loans

Article 12: The Meeting approved the report on restructuring plan for the company

Article 13: The Meeting approved to amend the Articles of Association

HOSE

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