PLP: PLP changes the plan for proceeds allocation

According to the Board Resolution dated May 07, 2019, the Board of Directors of Pha Le Plastics Manufacturing and Technology Joint Stock Company decided to adjust the use of proceeds from the stock issuance to raise capital as follows:

1. The plan approved by the 2018 Annual General Meeting of Shareholders:

-       Total expected proceeds: VND180 billion

-       Plan for proceeds:

• To invest in Nghe An Branch and Hai Phong Plant: 50 billion dongs
• To invest in the production line for artificial paving stones: 60 billion dongs
• To raise the working capital: 70 billion dongs

2. Plan for proceeds after the adjustment:

-       Total proceeds: VND102 billion

-       Plan for proceeds:

• To invest in Nghe An Branch and Hai Phong Plant: 7.5 billion dongs
• To contribute capital to set up a building materials enterprise: 24.5 billion dongs
• To raise the working capital: 70 billion dongs.

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