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CIG: Board Resolution No.18 on the use of proceeds from stock offering Coma18 Joint Stock Company announced Board Resolution No.18 dated September 29, 2016 as follows:
Article 1: Approving a plan for using the capital of stock offering according to the resolution of Annual General Meeting dated June 21, 2016:
- Because of the current financial situation (CIG’s cumulated loss at 06/30/2016: VND120.6 billion), the Board of Directors approved to use all proceeds from the stock offering to enhance the Company’s financial ability and use it as counterpart funds for Kim Thanh Industrial Park Project, Kinh Thanh District, Hai Duong Province.
- Total value of proceeds: VND181 billion
- Estimated time: from Quarter I.2017 or after finishing the private placement.
Article 2: Approving the following commitments:
- Private placements of shares or convertible bonds will be separated at least six months under the laws.
- The issuer (Coma18 Joint Stock Company) is not the parent company of the buyer (FIDEL Investment Joint Stock Company), and the two firms are not subsidiaries of the same parent company. HOSE
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