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NBR: Annual General Mandate 2018
On 17 Apr 2017, Nghia Binh Railway Joint Stock Company announced the Annual General Mandate 2018 as follows:
Article 1: Approve reports: The audited financial statement 2017; the 2017 operational report of Board of Directors and the 2017 operational report of Supervisory Board
Some main indicators that the Company achieved in 2017 as follows:
- Revenue: 131.07 billion dongs
- Profit before corporate income tax: 3.879 billion dongs
- Profit after corporate income tax: 2.907 billion dongs
Article 2: Approve the plan of production and business in 2018 with the main contents as follows:
- Revenue: 141.82 billion dongs
- Profit before tax: 3.88 billion dongs
- Profit after tax: 3.1 billion dongs
- Ratio of profit after tax per owner’s equity: 16.4%
- Ability of payment of overdue debt: 1
- Rate of dividend payment: 8.0% per contributed capital
General Meeting of Shareholders authorized Board of Directors: Instruct to implement the plan of production and business in 2018 approved by General Meeting of Shareholders; decide to adjust the production and business plan in accordance with the Company’s requirement on production and business;
Article 3: Approve plan for payment of salary and remuneration for Board of Directors and Supervisory Board for 2018 as follows:
- Total salary and remuneration for Board of Directors and Supervisory Board for 2018: 684 million dongs
In which:
+ Total salary and remuneration for Board of Directors: 390.0 million dongs
+ Total salary and remuneration for Supervisory Board: 294.0 million dongs
Article 4: Approve plan for profit distribution and dividend payment for 2017 as follows:
- Profit after tax: VND 2,906,908,030
- Deduction for funds:
+ Deduction for investment and development fund: VND 436,036,000
+ Deduction for the fund of bonus for management board: VND 213,000,000
+ Deduction for bonus and welfare fund: VND 813,072,030
- Dividend payment: 7.5% in cash
+ Expense: VND 1,444,800,000
+ Dividend payment rate: 8% per contributed capital;
+ Dividend payment measure: in cash
General Meeting of Shareholders authorized Board of Directors to decide the record date of dividend payment and payment date in accordance with law;
Article 5: Approve plan for selecting the auditing company to audit financial statements in 2018;
General Meeting of Shareholders authorized Board of Directors to select the auditing company to audit the Company’s financial statements in 2018. The audit company selected must be named in the list of auditing companies that are allowed to audit the financial statements of listing companies on stock market in accordance with regulations of law by Ministry of Finance and State Securities Commission of Vietnam.
Article 6: Approve authorizing Board of Directors to sign contracts
General Meeting of Shareholders authorized Board of Directors of Nghia Binh Railway Joint Stock Company to approve ad sign contracts and transactions valued at more or equal to 35% of total assets, which were recorded in the latest financial statement of the Company. Shareholder holding over 10% of total number of common shares of the Company is Vietnam Railways Corporation.
Article 7: General Meeting of Shareholders assigned Board of Directors to implement the Annual General Mandate’s contents, which were approved at the annual General Meeting of Shareholders 2018 of Nghia Binh Railway Joint Stock Company. Board of Directors are responsible for reporting the performance results to General Meeting of Shareholders in the next meeting.
The Annual General Mandate 2018 was approved by Annual General Meeting of Shareholders 2018 of Nghia Binh Railway Joint Stock Company at the meeting.
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