TYA: Board Resolution on Bank Loan

Taya (Vietnam) Electric Wire and Cable Joint Stock Company announced the board resolution dated­ December 23, 2015 as follows:

1)    The Board of Directors approved to borrow a short-term loan in Far East National Bank – Hochiminh Branch, with a credit limit of USD3,000,000 (three million dollars) to increase the Company’s working capital.

2)    The Board of Directors approved to borrow a short-term loan in ANZ (Vietnam) Bank – Hochiminh Branch, with a credit limit of USD2,000,000 (two million dollars) to increase the Company’s working capital.

The two loans will be guaranteed from the machinery mortgage contract of the Company and guaranteed by Mr. Shen Shang Pang – BOD Chairman.    

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