Hoa Phat Group Annual Shareholders’ meeting 2008

On March 31st, Hoa Phat Group has operated 2008 Annual Shareholders’ meeting in Melia hotel with the attendance of shareholders who represented for 108.956.970 shares – account to 82,54% general shares. The meeting showed its democracy and solidarity.

Members of Organizing committee includes Mr Tran Dinh Long – Chairman, Mr Tran Tuan Duong – Vice Chairman, General Director; Mr Doan Gia Cuong - Vice Chairman, Director of Hoa Phat Furniture; Mr Nguyen Manh Tuan - Vice Chairman, Director of Hoa Phat Steel Pipe.

During the beginning, the Conference listened reports about business – manufacturing statement of 2007 and plan of 2008; rewarding project for member companies in case of the achievement beyond the expectations (maximum recommended rewarding level is 5% of exceeded profit amount); and report of Supervisory and Legal Department.

The also approved the resignation of the 4 members of Board of Directors who are Mr Chu Quan, Mr Vu Duc Sinh, Mr Nguyen Viet Thang, Ms Vu Anh Tuyet and Ms Nguyen Thi Thu - a member of Supervisory and Legal Department, and the candidacy of Ms Nguyen Thao Nguyen for the position of Ms Thu.
The Conference listened for contributed opinions of shareholders about the issues: the input mineral material source for the Steel Complex project, 3 millions tons/year Cement project; Profit plan of 2008, Plan of increasing charter capital in 2008; Steel price increase problem; compensation for Board of Director; Gross investment in fixed property; long term vision of Hoa Phat in 2010 – 2015…

After discussing section, the Conference voted and passed for 5 issues: reward policy to member companies with operating results beyond the expectations; Company Regulation’s change according to Financial Ministry; election of Ms Nguyen Thao Nguyen as member of Supervisory and Legal Department 2008; commission for Managing Board and Supervisory Department; and the plan of 2007, 2008 fund establishment.

To conclude, Mr Tran Dinh Long gave a special thanks to shareholders who have believed in Hoa Phat, and congratulated the success of 2008 Annual Shareholders’ meeting 2008.

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