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TMT: Board Resolution on Business Plan TMT Motor Joint Stock Company announced the Board resolution dated November 02, 2015 as follows:
The Board of Directors approved the following contents:
1) The draft of business plan for 2016:
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No.
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Item
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Estimate for 2015
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Estimate for 2016
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Compared to 2015
(%)
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1
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Sales of cars
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7,900 cars
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10,560 cars
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33.67%
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2
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Net revenue
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3,550 billion dongs
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5,800 billion dongs
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63.38%
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3
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Profit before tax
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250 billion dongs
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330 billion dongs
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32%
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4
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Profit after tax
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200 billion dongs
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264 billion dongs
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32%
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2) Plan for issuing 1.5 million shares via the employee stock ownership plan (ESOP):
- Issue ratio on the total outstanding shares: 4.93%
- Issue volume: 1,500,000 shares
- Financial resource: the undistributed profit
- Issue time: in November, December 2015
- Purpose: to issue bonus shares to managers in the Company.
3) The resignation of Mr. Le Tien Phan as Member of the Board of Directors.
4) The additional appointment of Mr. Bui Quoc Hung to the Board of Directors for term 2012 – 2016.
The policy on buying land in Hochiminh City from 10,000 to 15,000 m2 for head office, showrooms and Southern depot. The Directorate was assigned to complete transactions before December 31, 2015. HOSE
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