ASM: BODs Resolution on stock issuance to pay dividend
ASM: BODs Resolution on stock issuance to pay dividend
On August 15, 2017, BODs of Sao Mai Group Corporation approved a plan for stock issuance to pay dividend for 2015 and 2016 as follows:
- Stock name: Sao Mai Group Corporation
- Stock code: ASM
- Stock type: common share
- Par value: 10,000 dongs/share
- Number of outstanding shares: 219,939,867 shares
- Exercise ratio: 10% - 100:10 (Shareholders are entitled to have 10 new shares for every 100 shares owned.)
- For example: On the record date to finalize shareholders, shareholder A owned 101 shares. With 10% performing ratio, the shareholder A will receive: 101 * 10% = 10.10 shares. According to rounding policy, the shareholder A receives 10 new shares. The fractional shares of 0.1 will be received 1,000 dongs (0.1 * 10,000dongs/share.)
- Number of shares expected to be issued: 21,993,986 shares.
- Total value (based on par value): 219,939,860,000 dongs
- Transfer restriction: none
- Plan to use proceeds after the issuance: supplement the capital for business production.
- Payment date: expected in Q4.2017
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