MKP to buy treasury shares and offer additional 4.45m shares

Mekophar Chemical Pharmaceutical Joint Stock Co (coded MKP) has announced the resolution of its annual general meeting (AGM) 2012 whereby the company targets to gain 1.045 trillion dong revenue and 101 billion dong pre tax profit in 2012.

The company also plans to pay dividend at 20 percent in cash this year.

MKP’s AGM also passed a plan to buy treasury shares at the maximum ratio of 30 percent of the total shares in circulation in 2012. In details, the company plans to buy 2,869,108 fund shares, equalling to the maximum ratio of 28.4 percent. The buying price will be in accordance with the law.

In addition, the company also plans to issue 4.45 million shares, including 450,000 shares to the key employees priced at 20,000 dong per share and four million shares for the existing shareholders at the price of 43,000 dong per share. It is expected that the share issuance to the existing shareholders will be deployed in two phases, including two million shares in the first phase (in Q2 2012) and the second phase will be carried out after finishing the phase 1 and if the capital demand is really necessary for projects.

 

Category: Stocks