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DNS: Annual General Mandate
On 20 Apr 2018, Da Nang Steel Joint Stock Company announced Annual General Mandate as follows:
- Approve operating result of 2017 and operating plan for 2018
- Operating result of 2017:
- Revenue: VND 1,356.212 billion
- Profit before tax: VND 34.529 billion
- Dividends payment rate: 11%
- Average income of labors; VND 8,100,000/ person/ month
- Steels casts production: 129,828 tons
- Consumptions: 133,764 tons
+ Steels casts: 131,794 tons
+ Steels: 1,970 tons
- Operating plan for 2018:
- Revenue: VND 1,400 billion
- Profit before tax accumulated: VND 35 billion
- Dividends payment rate expected: 12%
- Average income of labors; VND 8,500,000/ person/ month
- Steels casts production: 135,000 tons
- Consumptions: 135,000 tons
- Approve investments of 2017 and investments plan for 2018 of Board of Directors
Plan of 2017: VND 27,600 million, exercised: VND 14,800 million
Plan for 2018: VND 25,000 million with 03 transferred categories VND 12,000 million and 8 new categories: VND 13,000 million
- Approve the Audited Financial Statement of 2017
- Approve reports on 2017 of Board of Supervisors
- Approve remunerations for Board of Directors and Board of Supervisors in 2017, plan for 2018
Total salaries and remunerations for 2018 with the expected production of 135,000 tons per year:
+ Total salaries for Executive Board (3 people), Chief Accountant (1 person) and Board of Directors + Executive Board (2 people): VND 2,123,000,000 per year
+ Remuneration for Chairman: VND 60,000,000 per year
+ Remuneration for Members of Board of Directors (2 people): VND 96,000,000 per year
(Non-specialized)
+ Remuneration for Head of Board of Supervisors: VND 48,000,000 per year
+ Remuneration for Members of Board of Supervisors (02 people): VND 72,000,000 per year
+ Remuneration for Secretary of Board of Directors (01 person): VND 24,000,000
- Approve profits distributions and dividends payment of 2017:
- Profit after tax of 2017: VND 29,185,920,750
- Dividends payment in cash rate: 11%, completing the payment before 30 Jun 2018
- Profit after tax remained and transferred into 2018: VND 639,247,239
- Plan on profits distributions and dividends payment for 2018:
- Profit before tax expected to be implemented in 2018: VND 35,000,000,000
- Expected dividends payment rate: 12%
- Assign Board of Directors to select the auditors for Financial Statement of 2018
- Approve reports on 2017 of Board of Directors
- Dismiss Mr. Tran Trong Manh from Member of Board of Directors and appoint additionally Ms. Cu Thi Thuy Linh to be Member of Board of Directors from 01 Nov 2017
- Transfer of shares received by An Hung Tuong Steel Co., Ltd – major shareholder of the Company, making the owning rate increase up to 15% and over and having voting rights at the Company without implementing tender offer
- Implementations
This Mandate approved by the Annual General Meeting of Shareholders of 2018 and took effect from 20 Apr 2018 and assigned to Board of Directors, Board of Supervisors to implementHNX
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