KSB: Board approves to contribute capital to establish SilkWater Company

Binh Duong Mineral and Construction Joint Stock Company (short name: BIMICO) announces the Board resolution dated May 22, 2018 as follows:

1)    Approving the value of BIMICO Bottled Drinking Water Enterprise (including workshop, equipment, land-use right) at 30/11/2017 to be VND2,332,000,000.

2)    Approving to transfer the entire value of BIMICO Bottled Drinking Water Enterprise to contribute capital to establish SilkWater Bottled Drinking Water Joint Stock Company.

3)    Approving to contribute capital to establish SilkWater Bottled Drinking Water Joint Stock Company:

-          Address: Binh Duong avenue, Thuan Giao, Thuan An, Binh Duong

-          Charter capital: VND5,000,000,000.

-          The capital contribution ratio of Binh Duong Mineral and Construction Joint Stock Company: 51%, equivalent to VND2,550,000,000 (of which, VND2,332,000,000 contributed by the value of BIMICO Bottled Drinking Water Enterprise, and VND218,000,000 contributed by cash).

4)    Appointing Mr. Luu Van Khanh as the Representative of Binh Duong Mineral and Construction Joint Stock Company and the Director cum Legal Representative at the new company.

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