KDC: Board approves to sell stake at KDF

KIDO Group Corporation (“KDC”) announces the Board resolution dated April 07, 2017 as follows:

Article 1: The Board of Directors approved to transfer a part of stake at KIDO Frozen Foods Joint Stock Company (“KDF”):

1)    Company name: KIDO Frozen Foods Joint Stock Company (“KDF”)

2)    Number of common shares: 56,000,000 shares

3)    Number of shares owned by KDC: 44,688,000 shares (79.8%)

4)    Par value: VND10,000/share

5)    Stock type: common stock

6)    Expected ratio to be transferred: 14.80% charter capital (equivalent to 8,288,000 shares), including:

-          To transfer shares through ESOP: 10.00% charter capital, equivalent to 5,600,000 shares;

-          To transfer shares to strategic partners: 4.80% charter capital, equivalent to 2,688,000 shares.

7)    Transfer price:

-          To transfer shares through ESOP: VND25,000/share;

-          To transfer shares to strategic partners: VND40,000/share.

8)    Restriction period: within 12 months from the finish date of transfer procedure.

9)    Time of implementation: Quarter 3/2017

10) Consulting firm: Viet Dragon Securities Corporation. 

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