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DCL: Board Resolution on share offering Cuu Long Pharmaceutical Joint Stock Corporation announced the board resolution dated May 27, 2015 as follows:
Article 1: The Board of Directors approved to implement the stock issuance to increase the Corporation’s charter capital, according to Resolution of Annual General Meeting of Shareholders 2015 dated February 28, 2015 as follows:
- Objects: existing shareholders
- Exercise ratio: 1:1 (each shareholder owning 01 share will receive 01 new share)
- Issue volume: 10,059,480 shares
- Issue price: VND20,000/share
- Unsold shares (if any) will be distributed to investors at VND20,000/share
- Rights are transferred only once at the price agreed by 2 partners and not done again to the third one
- Time of implementation: in Quarter 2, 2015
Article 2: The Board of Directors approved plan on using of proceeds of VND201,189,600,000 from the offering:
- The company plans to use VND80 billion to invest pharmaceutical factory, VND65 billion to invest for Capsule factory, VND50 billion to invest for Vikimco factory, VND11 billion for transferring vehicle, VND17 billion for depot building, VND20 billion for R&D, VND1 billion to extend branch systems, VND70 billion for management software, VND50 billion to add the company’s working capital.
- Total: VND314 billion, of the sum VND201,189,600,000 will be proceeds from above shares and VND112,810,400,000 loans from Banks. HOSE
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