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BAB: Annual General Mandate 2018
On 24 April 2018, Bac A Commercial Joint Stock Bank announced the Annual General Mandate 2018 as follows:
Article 1: Approve the report on the business results in 2017 and the business orientation and plan for 2018; (Details in accordance with the report approved at the Annual General Meeting of Shareholders 2018)
Article 2: Approve the Board of Directors’ report on operation results in 2017 and the operation keys for 2018; (Details in accordance with the report approved at the Annual General Meeting of Shareholders 2018)
Article 3: Approve the Supervisory Board’s report on operation results in 2017 and the operation keys for 2018; (Details in accordance with the report approved at the Annual General Meeting of Shareholders 2018)
Article 4: Approve the audited financial statement 2017; (Details in accordance with the audited financial statement approved at the Annual General Meeting of Shareholders 2018)
Article 5: Approve the statement on the 2017 profit distribution plan; (Details in accordance with the statement approved at the Annual General Meeting of Shareholders 2018)
Article 6: Approve the statement on remuneration payment/ operation budget of Board of Directors and Supervisory Board and selection of auditing company to audit the Company’s financial statements in 2018 (Details in accordance with the statement approved at the Annual General Meeting of Shareholders 2018)
Article 7: Approve the statement on amending Charter and operation certificate of Bac A Commercial Joint Stock Bank (Details in accordance with the statement approved at the Annual General Meeting of Shareholders 2018);
Article 8: Approve the statement on the plan of raising Charter capital by 6,000 billion dongs
- Increase of Charter capital
- Charter capital at December 31st, 2017: VND 5,000,000,000,000 (In words: Five thousand billion dongs);
- Charter capital approved by The State Bank of Vietnam under the Official letter No. 10543/NHNN-TTGSNH dated December 26th, 2017 was VND 5,500,000,000,000 (In words: Five thousand five hundred billion dongs)
Implement the policy approved by The State Bank of Vietnam under the Official letter No. 10543/NHNN-TTGSNH, Bac A Commercial Joint Stock Bank completed Charter capital increase in the phase No. 1 – increasing additional VND 462,049,000,000 (Four hundred sixty two billion forty nine million dongs) on March 15th, 2018. The current Charter capital of Bac A Commercial Joint Stock Bank is VND 5,462,049,000,000 (Five thousand four hundred sixty two billion forty nine million dongs). Bac A Commercial Joint Stock Bank is making necessary procedures to complete the 2nd – phase capital increase – rising additional VND 37,951,000,000 (Thirty seven billion nine hundred fifty one million dongs) in order to raise Charter capital at VND 5,500,000,000,000 (Five thousand five hundred billion dongs);
- It is expected that the Charter capital will increase by VND 500,000,000,000 (Five hundred billion dongs) from the 2017 remaining profit after tax of BAC A BANK after Bac A Commercial Joint Stock Bank distributed the 2017 profit after tax for funds. That is satisfied with current regulations of law and Additional reserve fund of charter capital of BAC A BANK.
- It is expected that after completing increasing Charter capital, the Charter capital of Bac A Commercial Joint Stock Bank shall be VND 6,000,000,000,000 (Six thousand billion dongs);
- Measure of capital increase
Bac A Commercial Joint Stock Bank will raise Charter capital through issuing additional 50,000,000 common shares with par value of 10,000 dongs per share under the following measures:
- Reward shares for employees: 5,000,000 shares;
- Issue shares to pay dividend and reward shares for existing shareholders: 45,000,000 shares;
- General Meeting of Shareholders authorized/ assigned Board of Directors to adjust/ complete and/ or approve the plan of Charter capital increase stated above (if need adjusting) to satisfy actual operation demand of BAC A BANK, regulations of law and ensure benefits of shareholders. Moreover, General Meeting of Shareholders also authorized/ assigned Board of Directors to submit competent authorities for consideration and approval. Board of Directors must direct and implement the plan of Charter capital increase under the Annual General Mandate 2018 and law’s regulations, including but not limited to the following issues:
- Authorize Board of Directors to pay dividend for existing shareholders by shares and reward shares for employees from the 2017 remaining profit after tax of BAC A BANK after Bac A Commercial Joint Stock Bank distributed the 2017 profit after tax for funds and satisfied with current regulations of law;
- Authorize Board of Director to reward shares for existing shareholders from Additional reserve fund of charter capital of BAC A BANK;
- Authorize Board of Directors to implement stock reward for employees that must be fair and based on contribution of employees to development of BAC A BANK;
- Authorized Board of Directors to decide the time restricted for transfer to the number of shares rewarded for employees;
- Authorize Board of Directors to handle the number of odd shares related to Charter capital increase as stated above;
- Authorize Board of Directors to implement procedures of registration of Charter capital increase related to Charter capital increase as stated above;
- Authorize Board of Directors to supplement the content of capital increase in the Business Registration Certificate and Operation Certificate in accordance with law’s regulations;
- Other contents and issues related to Charter capital increase as mentioned above;
Article 9: Approve the Statement on supplementing the business lines in the Operation Certificate of Bac A Commercial Joint Stock Bank; (Detail in accordance with the Statement approved at Annual General Meeting of Shareholders 2018)
Article 10: Approve the Statement on authorizing/ assigning Board of Directors to represent the General Meeting of Shareholders to decide and implement some other contents under the authorities of General Meeting of Shareholders in accordance with the contents of the Statement of Board of Directors of Bac A Bank; (Detail in accordance with the Statement approved at Annual General Meeting of Shareholders 2018)
Article 11: Approve the Statement on amendment and supplement of operation regulations of Supervisory Board; (Detail in accordance with the Statement approved at Annual General Meeting of Shareholders 2018)
Article 13: General Meeting of Shareholders approved authorizing/ assigning Board of Directors, Supervisory Board and Management Board to take responsibilities for performing contents mentioned in the Annual General Mandate 2018;
Article 14: The Mandate was approved by General Meeting of Shareholders and takes effect from the signing date.HNX
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