|
FIT: Board Resolution on the share issue to increase charter capital in 2015
On 24 Nov. 2014,
F.I.T Investment Joint Stock Company
announced the share issue to increase
charter capital in 2015 as follows:
1. Carrying
out the stock offering to the public to increase charter capital in 2015 based
on General Mandate 2014 No. 01/2014/NQ-DHDCD/FIT dated 26 April 2014 as
follows:
- Interim
dividend payment 2014 by share
+ Number of
shares to be issued: 7,499,999 shares
+ Exercise
rate: 100:15 (shareholder who holds 20 shares receive 3 new shares)
+ Method of
rounding and handling fractional shares: Number of the shares which is paid in
advance to outstanding shareholders in 2014 is rounded down to unit digit. The
decimal (if any) will be distributed to other subjects by Board of Directors
reasonably with selling price of VND 10,000/share. The proceeds from sale of
fractional shares will be delivered to shareholders owning the fractional
shares
For example,
shareholder A named in the list on record date owns 124 shares with the
exercise rate of 100:15; number of shares whose dividend is paid in advance to
shareholder A in 2014 is (124x15):100 = 18.6 shares. Based on the rounding
principle, the shareholder actually receives 18 shares and VND 6,000 in cash
for 0.6 fractional shares. This number of fractional shares will be distributed
to other subjects by Board of Directors with selling price of VND 10,000/ share
+ Exercise
source: Profit after tax of the first 9 months of 2014
- Offering
shares to outstanding shareholders:
+ Number of
shares to be issued: 29,999,996 shares
+ Exercise
rate: 100:60 (shareholder owning 100 shares is allowed to purchase 60 new
shares)
+ Offering
price: VND 10,000/share
+ Handling
fractional shares and shares refused to buy
For
fractional shares (if any) arising from the right exercise, in order not to
exceed the issuing volume, number of additionally issued shares is rounded down
to unit digit
Number of
shares is refused to buy a proportion or the whole by outstanding shareholders,
authorize Board of Directors to redistribute to other subjects with selling
price equal to the price sold to outstanding shareholders, ensuring the success
of the share issue and highest benefits to the Company and shareholders
+ Shareholders
have rights to transfer the right of purchasing shares to other persons based
on mutual negotiations and are only entitled to one-time transfer (not transfer
to third person)
- Offering to
employees
+ Total
number of shares to be issued: 2,500,000 shares, split into 2 times:
First time: 1,712,499 shares (*)
Second time:
787,501 shares (**)
+ Offering
price: VND 10,000/ share
+ Criteria
and list of shareholders who are allowed to buy shares are decided by Board of
Directors
2. Expected
exercise time: Q.IV in 2014 – Q.I in 2015
3. Approve
the detailed plan for using the proceeds
- Number of
increased charter capital: VND 399 999 950 000, in which
Interim
dividend payment in cash: VND 74 999 990 000 (based on par value)
Offering to
outstanding shareholders: VND 299 999 960 000 (based on par value)
+ Offering to
employees (first time): VND 17 124 990 000 (based on par value)
+ Offering to
employees (second time): VND 7 875 010 000 (based on par value)
- Total
proceedings: VND 324 999 960 000, in which:
From
outstanding shareholder: VND 299 999 960 000
From
employees: VND 25 000 000 000
+ From
employees (first time): VND 17 124 990 000
+ From
employees (second time): VND 7 875 010 000 (*)
Detailed use
of the proceeds:
|
Purpose
|
Amount
(VND)
|
|
Invest in
subsidiaries, joint-ventures, associated companies
|
205 567 895
000
|
|
- Invest in
Can Tho Agricultural Techniques Joint Stock Company
|
205 567 895
000
|
|
Supplement
working capital to the Company
|
119 432 055
000
|
|
Total
|
324 999 960
000
|
* Investment
plan of Can Tho Agricultural Techniques Joint Stock Company:
|
Plan
|
Amount
(VND)
|
|
Invest in
member companies (TSP, WFC, TSS)
|
1 012 405
180 000
|
|
Supplement
working capital
|
200 000 000
000
|
|
Total
|
1 212 405
180 000
|
Accordingly,
FIT expects to invest more capital of VND 788 063 367 000 in Can Tho Agricultural
Techniques Joint Stock Company, VND 205 567 895 000 of which is from the
proceeds, the residual amount of VND 582 495 472 000 will be mobilized from
other sources by FIT
4.
General Directors and related persons take responsibility for performing the
resolution.HNX
|
