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FCN: Board resolution on stock offering On August 31, 2017, the Board of Directors of FECON Corporation approved a plan for issuing shares to the existing shareholders to raise funds in 2017 as follows:
1) Stock name: Stock ofFECON Corporation
2) Stock type: common share
3) Par value: VND10,000/share
4) Expected issue volume: 33,000,000 shares
5) Total issue value: VND330,000,000,000.
6) Issue price: VND15,000/share
7) Exercise ratio: 100:60 (Those who own 100 shares will be entitled to buy 60 new shares.)
8) Plan to deal with fractional shares and unsold shares:
- The distributed shares will be rounded down. The fractional shares (if any) and the shares refused to buy by the existing shareholders will be offered to other investors by the Board of Directors at VND15,000/share and will be restricted in 01 year.
- And/or, the Board of Directors will sign an underwriting agreement with a securities firm to distribute and/or buy a part or entire fractional shares and the shares refused to buy by the existing shareholders at VND15,000/share. The shares offered to the securities firm will not be restricted.
- In case that the Board of Directors do not sell out of fractional shares and the shares refused to buy by the existing shareholders, these shares will be cancelled.
9) Restriction period: none
10) Time of implementation: in Quarter III/2017 – Quarter IV/2017.
11) Expected mobilized capital: VND495,000,000,000.
12) Expected charter capital after the offering: VND873,529,160,000.
13) Plan for the use of capital:
The mobilized capital from the offering will be used for the following projects:
|
No.
|
Project
|
Amount
(VND)
|
%
|
|
1
|
To contribute capital in FECON South JSC
|
50,000,000,000
|
10.10%
|
|
2
|
To raise funds for FECON UCC JSC
|
112,000,000,000
|
22.63%
|
|
3
|
To invest in BT Provincial Highway No.9 – Hochiminh City Project
|
134,000,000,000
|
27.07%
|
|
4
|
To invest in Vinh Hao 6 Solar Power Project
|
153,000,000,000
|
30.91%
|
|
5
|
To raise the working capital
|
46,000,000,000
|
9.29%
|
|
|
Total
|
495,000,000,000
|
100%
|
HOSE
|
