VNE: Resolution on the restructuring of subsidiaries

Vietnam Electricity Construction Joint Stock Corporation (VNECO) announced the board resolution dated December 01, 2015 as follows:

1)      To transfer assets of the Corporation: to transfer 68,375 m2 of the land belonging to My Thuong New Urban Area. Transfer price (estimated): VND200.74 billion.

2)      Through the general meeting of shareholders/ the Board of Directors of subsidiaries to implement rights of shareholders of the parent company to consider and decide to some assets and projects at Meca Vneco Investment and Electricity Construction JSC (MECA VNECO JSC) and Hue Green Travel JSC to restructure operations.

3)      Estimated results of transfer:

-          Total transfer value (estimated): VND623.94 billion;

-          Profit gained by VNECO (estimated): VND174.75 billion;

-          Cash flow gained by VNECO (estimated): VND533.5 billion.

4)      To offer a public sale of entire stake of VNECO at companies:

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