The Board resolution dated July 04, 2019, Fecon Corporation approved the following issues as follows:
- Approving the plan for stock issuance to pay dividend for 2018:
- Number of shares expected to be issued: 5,692,387 shares
- Total value (based on par value): VND56,923,870,000
- Issue ratio: 100:5 (shareholder who owns 01 share will receive 01 right, and with every 100 rights will be entitled to receive 05 new shares.)
- 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 1,050 shares. With 100:5 performing ratio, the shareholder A will receive: 1,050 * 5/100 = 52.5 shares. According to rounding policy, the shareholder A receives 52 new shares. The fractional shares of 0.5 will be cancelled.
- Expected charter capital after the issuance: VND1,195,401,290,000.
- Time of implementation: after being approved by the State Securities Commission of Vietnam (SSC).
- To registered to deposit the Vietnam Securities Depository (VSD) and list on the Hochiminh Stock Exchange (HOSE) for new shares of the stock dividend payment
2. Approving to pay cash dividend for 2018:
- Record date: July 16, 2019
- Exercise ratio: 5%
- Payment date: August 16, 2019.