Hoa Phat answers about bonus policy for executive board

Currently, there are some wrong opinions on the bonus policy for Executive Board of Hoa Phat Group when exceeding the annual plan. To help investors as well as those interested in understanding more about this, Hoa Phat Group JSC (HPG) officially announces as follows:

According to the General Meeting of Shareholders HPG 2013, bonus plan for the Executive Board of HPG and its subsidiaries when exceeding business plan was up to 5 % of exceeded profit after tax.

At the end of 2013, HPG reached VND2,010 billion of profit after tax. Comparing to the 2013 target of VND1,200 billion adopted at the General Meeting of Shareholders in late  3/2013, the plan excess part is VND810 billion. Thus, the reward for executives will be 5 % of the exceeded profit after tax, equal to 41 billion.

This amount will be used as bonus fund and welfare activities for the Executive Board of the parent company and subsidiaries, including the entire board of directors, manager, vice manager of departments in the entire group with more than 340 people. This way of calculation is uniformly applied in HPG for many years and in the future as well.

HPG’s general Meeting of Shareholders also approved the 2014 bonus plan for the Executive Board when business results exceeds business plan, a maximum of 5 % of the exceeded profit after tax

The other information related to the operations of the business segments, the deployment of the projects,... will be updated regularly on the HPG website at www.hoaphat.com.vn.

Valuable shareholders, investors could refer to the website or contact us directly to investor relation or Public Relations via email: hoaphatgroup@hoaphat.com.vn or phone number: 04.6284 8666 ext 6678/6656 for any inquiries.

HPG