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MIG: Implementing the plan for stock issuance to pay dividends The Board resolution dated May 12, 2021, the BOD of Military Insurance Corporation approved to implement the plan for stock issuance to pay dividends to existing shareholders as follows:
- Stock name: Military Insurance Corporation
- Stock code: MIG
- Stock type: common share
- Par value: VND10,000/share
- Number of shares expected to be issued: 13,000,000 shares
- Total value of issue (based on par value): VND 130,000,000,000
- Exercise ratio: 10:1 (shareholders who own 01 share will receive 01 right, and with every 10 rights will be entitled to receive 01 new share).
- Plan to deal with fractional shares: The distributed shares will be rounded down to dozen, the fractional shares due to rounding down will be transferred to MIC Labor Union.
- For example: at the record date, shareholder A owned 123 shares. With 10:1 performing ratio, the shareholder A will receive: 123 *1/10 =12.3 shares. According to rounding policy, the shareholder A receives 12 new shares and fractional shares of 0.3 will be transferred to MIC Labor Union.
- Time of implementation: Quarter II/2021, after being approved by the State Securities Commission of Vietnam (SSC).
- Regulation on transfer restriction: none.
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