The southern bourse-listed Phuoc Hoa Rubber Joint Stock Co (coded PHR) has released the resolution approved in the third management board meeting in 2012. Accordingly, the company’s leaders have approved for purchasing in 500,000 fund shares.
The management board would be authorised for deciding the share price, depending on the stock market’s situation. The company would use the unallocated profit source for buying the shares.
The company is expected to conduct the transactions under order matching method, starting from July 2012.
In Q2, PHR has set target to produce 3,120 tonnes of latex, equivalent to 16 percent of the year plan, much higher than that of previous quarter. As for financial plan, the company would continue paying 2011 dividend – the second round.