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CRE: Resolution on the plan for stock issuance to raise capital On January 09, 2019, the General Meeting of Shareholders of Century Land Joint Stock Company approved the plan for stock issuance to raise capital as follows:
- Charter capital before the issue: VND500,000,000,000, equivalent to 500,000,000 shares
- Number of shares expected to be issued: 30,000,000 shares, equivalent to VND300,000,000,000; Of which:
+ Stock issuance to pay dividend for 2018: 7,500,000 shares, equivalent to VND75,000,000,000 (based on par value);
+ Stock issuance to raise charter capital from the owner’s equity: 22,500,000 shares, equivalent to VND225,000,000,000 (based on par value).
- Total shares after the additional issuance: 80,000,000 shares
- Charter capital after the additional issuance: VND800,000,000,000
- Implementation method: implementing rights
- These shares will not be restricted transfer
- Exercise ratio:
+ Stock issuance to pay dividend for 2018: 100:15 (Shareholders are entitled to have 15 new shares for every 100 shares owned.)
+ Stock issuance to raise charter capital from the owner’s equity: 100:45 (Shareholders are entitled to have 45 new shares for every 100 shares owned.)
- Plan to deal with fractional shares:
+ Stock issuance to pay dividend for 2018: the distributed shares will be rounded down. The fractional shares will be bought with the price of VND10,000/share.
+ Stock issuance to raise charter capital from the owner’s equity: the distributed shares will be rounded down. The fractional shares will be bought with the price of VND10,000/share.
- Time of implementation: expected in Q1.2019. HOSE
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