Shareholders in Can Tho Cement disapprove issuing new shares

08-Dec-2010 Intellasia | Vietstock | 7:53 PM Print This Post

The shareholders of HNX-listed Can Tho Cement Joint Stock Co (coded CCM) have lately rejected the proposal of advancing 2010 dividend and offering additional shares given by the company’s management board, the recent opinion collection from shareholders in written documents showed that.

Accordingly, the shareholders disapproved the cancelation of advancing 2010 dividend in cash that had been approved in the 2010 annual shareholders meeting, and replaced it with the new one of advancing 2010 dividend in shares at 12.5 percent ratio and in cash at 5.5 percent with the purpose of raising chartered capital from 40 billion dong to 45 billion dong.

In addition, the shareholders also rejected the plan of offering 70 billion dong convertible bonds that had been approved in the company’s resolution No 02/NQ-DHDCD dated August 5, 2010.

The management board will consider the accurate time and suitable market condition to start offering the convertible bonds in order to protect the shareholders’ benefits, and make reports to the shareholders in the latest coming shareholders meeting.


Category: Business

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