Nafoods Group Joint Stock Company announces the resolution of the General Meeting of Shareholders under the method of collecting shareholders’ opinions in writing dated June 07, 2019, as follows:
Article 1: Approving to adjust the plan for private placement to Endurance Capital Vietnam I:
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Content before change
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Content after change
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- Estimated issue volume: 765,580 shares (2.11% of total outstanding shares)
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- Estimated issue volume: 880,449 shares
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- Selling price: VND15,000/share
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- Selling price: VND13,043/share
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- Total issue value (based on par value): VND7,655,800,000
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- Total issue value (based on par value): VND8,804,490,000
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- Total issue value (based on selling price): VND11,483,696,307
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- Purpose: to raise the working capital
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- Purpose: to raise the working capital and refinance the existing debts
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Article 2: Approving to adjust the plan for capital allocation from the private placement of preferred shares to International Finance Corporation (IFC):
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Content before change
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Content after change
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Purpose
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Amount
(USD)
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Amount
(USD)
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(1) To refinance the existing debts
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A maximum of USD3,000,000
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A maximum of USD3,500,000 (including the loan of Endurance)
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(2) To invest in infrastructure of supply chain.
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To authorize the Board of Directors to make decisions
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To authorize the Board of Directors to make decisions
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(3) To raise the working capital
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To authorize the Board of Directors to make decisions
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To authorize the Board of Directors to make decisions
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Article 3: Approving the plan for issuing common shares (“converted shares”) when implementing the conversion right of preferred shares (“preferred shares”) in accordance with the Share Subscription Agreement between IFC and NAF.
- Type of converted shares: common share
- Par value of converted shares: VND10,000/share
- Issue date: when implementing the conversion right of preferred shares under the agreement, charter, license and via negotiation.
- Conversion price: under the agreement, charter, license and via negotiation.