Tai Nguyen JSC. (TNT) announced the resolution of its 2012 Annual general Meeting (AGM) with some main contents as follows:
The firm targets a net profit of VND12.75 billion on revenue of VND200 billion in 2012. VNA planned to pay 2012 dividend at equivalent to VND1,500/share.
This year, the company aimed to hike charter capital to VND300 billion from currently VND85 billion by issuing 21.5 million new shares.
Specifically, TNT aimed to issue 850,000 shares to pay 2011 share dividend at 1-for-10 ratio and 150,000 bonus shares to key personnel.
Besides, TNT will issue 17 million new shares to existing shareholders via rights issue; 250,000 shares to employees and 3.25 million shares to strategic partners.
The proceeds will be used to supplement working capital and invest in real estate project.
In 2011, the HOSE listed firm made a pre-tax profit of VND393 million on revenue of VND61.372 billion, fulfilling 1.8 percent and 21.6 percent of its full-year targets, respectively.