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LCG: BOD resolution on planninng the public offering The Board resolution dated May 13, 2021, the BOD of LICOGI 16 Joint Stock Company approved the following issues:
1) Approving to implement the plan for public offering:
a) Stock issuance to pay dividends for 2020:
- Number of shares expected to be issued: 9,219,853 shares, equivalent to 8.00% number of outstanding shares
- Exercise ratio: 100:8 (shareholder who owns 01 share will receive 01 right, and with every 100 rights will be entitled to receive 08 new shares).
- Estimated execution time: Quarter III/2021 or Quarter IV/2021, after being approved by the State Securities Commission of Vietnam (SSC).
b) Public offering to existing shareholders:
- Number of shares expected to be issued: 50,000,000 shares
- Exercise ratio: 115,248,172:50,000,000 (shareholder who owns 01 share will receive 01 right, and with every 115,248,172 rights will be entitled to purchase 50,000,000 new shares).
- Plan for using capital from the offering:
+ To repay loan for banks and subsidiaries: VND204,000,000,000
+ To contribute capital LCE Gia Lai: VND146,000,000,000
+ To invest Long Tan Residential Area project: VND150,000,000,000.
- Time of implementation: expected in 2021, after being approved by the State Securities Commission of Vietnam (SSC).
2) Approving the dossier of registration for the public offering.
HOSE
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