Resolution of the Board of Director about approving method of convertible issuance

27/11/2015 11:41

HOA PHAT GROUP JSC
***
Số: 22/NQHP-2009
SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
********
Hung Yen, 17/11/2009
RESOLUTION OF THE BOARD OF DIRECTOR
HOA PHAT GROUP JSC
V/v: Approving method of convertible bond issuance
 
 
BOARD OF DIRECTOR
HOA PHAT GROUP JSC
 
- Pursuant to Enterprise Law approved by the Assembly of Socialist Republic of Vietnam on November 29th 2005;
- Pursuant to the charter of Hoa Phat Group JSC;
- Pursuant to the report No 08.11.2009/HP-BB at 16/11/2009 of Hoa Phat Group
- Pursuant to the Resolution No 21/NQHP-2009 on November 16th2009 of the Assembly of Shareholders of Hoa Phat Group JSC;
- Pursuant to the Meeting Report of the Board of Director of Hoa Phat Group JSC No 22.09/BB-HP on November 17th 2009.
 
 
RESOLUTION
 
Article 1: Adopting method of convertible bond issuance as follows:
 
1.       Stock type
Convertible bond
2.       Issue method
Private placement
3.       Total par value
Less than VND 1.120 billion
4.       Offers
·         Criteria of choosing investors: under 100 the big investors, not including the professional investors.
·         Foreign, domestic organizations, individuals who have potential finance, giving priority to the investors relating to the Company’s business or financial and stock fields.The owning volume is in accordance with the law after buying the Company’s share
5.       Currency unit
VND
6.       Nominal value of a bond
1,000,000 VND
7.       Total value of bond
1,120,000 bonds
8.       Issue price
100% Nominal value
9.       Term
12 months
10.   Conversion right
The bondholders can implement the conversion
11.   Time for issuance
November 2009
12.   Estimated maturity date
1 year from the day of issuance
13.   Coupon
0%/year
14.   Anti Dilution Provision
·         The Board of Director of Hoa Phat Group JSC summits the Assembly of Shareholders to issue the bonus share for the available shareholders 10:1 from the capital surplus and pay dividend ratio 40% share (implementing in 2010). To ensure the creditors’ interests when the issuance method is approved, the convertible price will be adjusted to be equivalent to the issuance rate.
·        In the bond term, the Company commits not to increase its capital, excepting for increasing the above-mentioned capital in the Anti Dilution Provision.
15.  The round principle of the convertible share
 
 
When we count the convertible shares of the bond holders, if it has decimal number result, it will be rounded, For example: the convertible share is 456.286,9; the shares will be rounded to 456.286 shares.
16.   Purchasing minimum volume for each investor
50.000 bonds
17.   Bond distribution method
In case the register volume exceeds the offer volume, the total bonds will be distributed for the time – priority – offers.
18.   Bond Transfering
The investors are free to transfer the bond; owning rate of foreign investors is not exceeded 49% the total bond.
19.   Conversion price principal
The convertible price is not discounted more than 20% of the average closing price of 15 consecutive days before theex-right date to buy the bond.
20.   Ex-right date
November 18, 2009
21.   Average price
VND 69.867/Share
22.   Giá chuyển đổi
VND 56.000 /Share
(Equivalent to 80,15% the convertible price, the discount rate is 19,85% the average price)
23.   The issue volume equivalent to the conversion price (if have)
20.000.000 shares (equivalent to 10,20%the current charter capital)
24.   Purpose of using the capital
1. Tay Mo New Urban Project: VND 750 billion

2. Binh Trieu High Building Project: VND 60 billion

3. Pho Noi A IP – Phase 4: VND 110 billion

4. Increasing working capital: VND 200 billion

The Company will use the loan capital to balance the demand of each project.
25.   Potential investors list
1. Nam Hoang Viet Trading Co., Ltd

2. Ngoc Diep Production & Trading Company

3. Vinh Phat Investment JSC

4. BI Private Equity New Markets II K/S

5. Mr. Le Quang Tien

6. Ms. Nguyen Thi Thuong

7. Tien Phong commercial joint stock bank

8. Red River Holding

9. Lotus Mekong River Equity Fund

10. Vietnam Investment Property Ltd.

11. Spinnaker Global Strategic Fund Ltd

12. Sai Gon Sercurities JSC

26. Deposit
Minimum 20% the amount of money within 2 working days.
27. Payment
Paying 100% the amount of money within 7 working days.
28. Account number
The investors can transfer money to one of two account numbers:

1. Hoa Phat Group JSC

Agribank – Thang Long Branch

Address: No 4 – Pham Ngoc Thach – Ha Noi

Account number: 130 031 1005188

Swift Code: VBAAVNVX

2. Hoa Phat Group JSC

Techcombank – Head office

Address: 70-72 Ba Trieu – Hanoi

Account number: 138 101 3239 1018

Swift Code: VTCBVNVX
 
Article 2: The resolation is valid from November 17th. The Directorate and the Departments have to implement this Resolution.
 
Receiver:
-          As article 2;
-          Related organization
-              Saving./.
On be half of the BOARD OF DIRECTORS
Chairman
 
 

 

HOA PHAT GROUPJSC
***
Số: 21/NQHP-2009
SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
------o0o------
Hung Yen, 16/11 năm 2009
 
RESOLUTION OF THE ASSEMBLY OF SHAREHOLDERS
HOA PHAT GROUP JSC
 
THE ASSEMBLY OF SHAREHOLDERS
HOA PHAT GROUP JSC
 
- Pursuant to Enterprise Law approved by the Assembly of Socialist Republic of Vietnam on November 29th 2005;
 
- Pursuant to the charter of Hoa Phat Group JSC;
 
- Pursuant to the report No 08.11.2009/HP-BB at 16/11/2009 of Hoa Phat Group
 
RESOLUTION
 
Article 1: Approving the content as follows:
1. Method of convertible bond issuance
Method: Issuing convertible bond by VND 
Purpose: Cash mobilized from the convertible bond issuance will be supplement capital to the production and business activities and the other investment projects of the Group
Issue organization: HOA PHAT GROUP JOINT STOCK COMPANY
Bond: HPG bond
Total par value of the bond: From VND 1,000 Billion to VND 1,600 Billion
Stock type: convertible bond
Currency: VND
Convertible stock: HPG (Stock of HOA PHAT GROUP JOINT STOCK COMPANY
 
2. Granting authority for Board of Directors:
• Decide the method to issue the detail convertible bond (choosing consultancy organization, issue volume, conversion price, interest, bond duration, other detail terms)
• Choose the suitable issuance time to issue the convertible bond
• Implement to issue the convertible bond
• Report to the Assembly of Shareholder on the result of convertible bond issuance.
 
Article 2: The resolution is valid from November 16th. The Directorate and the Departments have to implement this Resolution.
 
Receivers:
-          NAs Article 2;
-          Saving./.
ON BE HALF OF BOD
Chairman
 
HPG

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