On December 24, 2018, the Board of Directors of Sao Mai Group Corporation approved to pay stock dividend for 2017 as follows:
- Exercise ratio: 7% (100:7) (Shareholder who owns 100 shares will receive 07 new shares.)
- Expected issue volume: 16,935,369 shares
- Total value (based on par value): VND169,353,690,000
- Plan to deal with fractional shares: The distributed shares will be rounded down, the fractional shares will be cancelled.
- For example: At the record date, shareholder A owned 108 shares. With 7% performing ratio, the shareholder A will receive: 108 * 7/100 = 7.56 shares. According to rounding policy, the shareholder A receives 07 new shares. The fractional shares of 0.56 will be cancelled.
- These shares will not be restricted the transfer.