Dear Shareholder
Song Da 9.06 Joint Stock Company please send your greeting respect.
Song Da 9.06 Joint Stock Company pleased to report to our shareholders made the transfer of capital investment projects as follows:
• December 21, 2009, Song Da 9.06 Joint Stock Company have the license number 475/UBCK-GCN about the stock offering. Accordingly, on 15/03/2010, Song Da 9.06 Joint Stock Company completed the issuance of shares to increase charter capital from 25 billion to 100 billion under the granted License. Total proceeds from the offering of 75 billion by Resolution of the annual meeting of shareholders in 2009 and published content in a prospectus offering shares will be used to fund Hong Thai - Dan Phuong urban projects. However, progress in project implementation Hong Thai - Dan Phuong urban in 2010 is slower than expected. Specifically, in 2010, the implementation of Hong Thai - Dan Phuong urban projects mainly focused on the consultant employing.
• The annual meeting of shareholders in 2010, also approved the investment projects include: Song Da - Binh Tan Urban Project and Nam Xay Noi II hydropower projects. Progress and disbursement plans for two projects in 2010 as follows:
|
TT
|
Project
|
Total value
|
Disbursements
2010
|
Iterm
|
Funding
|
|
Own capital
|
Loan
|
|
1
|
Sông Đà – Bình Tân Project
|
3.445.132
|
300.000
|
Cleanrance
|
65.000
|
235.000
|
|
2
|
Nậm Xây Nọi II Hydropower project
|
291.298
|
100.000
|
Construction
|
30.000
|
70.000
|
|
3
|
Total
|
3.736.430
|
400.000
|
|
95.000
|
305.000
|
Before the interest rate on bank loans in the rising trend and unstablity, to ensure optimal efficiency of shareholder capital, the Song Da 9.06 Joint Stock Company was temporarily transferred the capital from the issue of 75 billion to fund two projects: Song Da - Binh Tan and Nam Xay Noi II hydropower project.
* On the project urban Hong Thai - Dan Phuong disbursement needs arise, the Company will make borrowing plan of the two projects Song Da - Binh Tan and Sweden in Civil Construction to return part II already issued for the project urban Hong Thai - Dan Phuong.
The temporary transfer of funds above the company made based on assessment of implementation progress of projects and financial market conditions to ensure optimum efficiency of shareholder capital. Funded project was transferred to revenue in 2010 and is expected to continue to bring revenue to the Company in 2011. Specifically, according to financial reports May 9, 2010, revenue from the two urban projects Song Da - Binh Tan is 199 billion, contributing 87% of sales made May 9, 2010 of the Company.
In this dispatch, the Song Da 9.06 Joint Stock Company pleased to announce to our shareholders contents related to the transfer of capital project above and we will bear full responsibility before law for shareholders and the accuracy of the information provided, as well as prior claims arising if any.
Song Da 9.06 Joint Stock Company sincerely thank shareholders.
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