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SBT: Board resolution on stock issuance for stock swap Thanh Thanh Cong Tay Ninh Joint Stock Company announced the Board resolution dated Juen 07, 2017as follows:
1. The Board of Directors approved to register to issue additional shares for stock swap with Bien Hoa Sugar Joint Stock Company (BHS). After the merger, Thanh Thanh Cong Tay Ninh Joint Stock Company will own 100% charter capital of Bien Hoa Sugar Joint Stock Company.
Plan for stock issuance:
- Stock type: common stock
- Par value: VND10,000/share
- Stock code: SBT
- Number of shares to be issued: 303,831,938 shares
- Total issue value: VND3,038,319,380,000.
- Exchange ratio: 1:1.02 (01 BHS share will be exchanged for 1.02 SBT share)
- Number of BHS shares expected for exchange: 297,874,449 shares (100% of outstanding shares of BHS).
2. The Board of Directors approved the Merger Agreement between Thanh Thanh Cong Tay Ninh Joint Stock Company and Bien Hoa Sugar Joint Stock Company.
3. The Board of Directors approved the draft of Articles of Association of Thanh Thanh Cong Tay Ninh Joint Stock Company after merger.
4. The Board of Directors approved to choose a branch of Baoviet Securities Joint Stock Company to be the consulting firm for stock issuance. HOSE
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