TCR - resolution of the annual shareholders’ meeting
TAICERA Enterprise Company (TAICERA) has informed of resolution of the annual shareholders’
meeting which was held on April 29th 2008. The meeting was unanimous the following issues:
Article 1: Business result in 2007:
Consumption output 2006-2007
Unit: m2
2006
Enamelled tile
2007
%
3,154,803
2,967,867
-5.9%
Quartz tile
5,427,253
9,136,415
68.3%
Total
8,582,056
12,104,282
41%
Consumption output under the market segment 2006-2007:
Unit: m2
2006
Local
Enamelled tile
Ratio (%)
Quartz tile
Ratio (%)
Total
2007
Export
Local
Export
1,635,136
1,519,667
2,153,595
814,272
0.19
0.18
0.18
0.06
1,708,275
3,718,978
2,631,388
6,505,027
0.20
0.43
0.22
0.54
3,343,411
5,238,645
4,784,983
7,319,299
Financial criteria 2006-2007
Unit: VND
Items
2006
Revenue
Deduction
Net revenue
1
2007
680,437,195,565
1,149,660,702,685
4,341,818,864
4,280,456,390
676,095,376,701
1,145,380,246,295
Cost of goods sold
488,217,390,349
876,403,901,477
Gross profit
187,877,986,352
268,976,344,818
Net profit before tax
68,235,459,560
80,010,990,455
Corporate income tax
10,129,076,042
7,201,455,645
Profit after tax
58,106,383,518
72,809,534,810
8.59%
6.36%
Profit after tax/net revenue
Article 2: Pass investment plan and operation 2008
1. The company expands international market in 2008
2. Consumption market:
-
Local market: meet the need of market
-
Foreign market: export is expected to account for 55% of total output in 2008
3. Production:
-
Revenue: VND1,187,800,000,000
-
Profit after tax increases by 14.3%
-
Complete production line, strengthen management of the company
4. Investment and finance:
-
Invest to machine and equipment
-
Construct office building and warehouse in My Xuan Industrial Zone
-
Transfer contribution of USD2,750,000 to the company, cooperate with a construction
company in Taiwan, strengthen investment on real estate.
5. Raise of chartered capital to VND100 billion
Article 3: Pass report of the BOD and Supervisory Board
Article 4: Pass plan of profit distribution 2007
-
Profit before tax: VND80,010,990,455
-
Tax: VND7,201,455,645
-
Profit after tax: VND72,809,534,810
2
-
Deduction for development investment fund: VND14,561,906,962
-
Deduction for financial reserve fund: VND3,640,476,741
-
Dividend payment: VND40,284,412,800 (pay-out ratio: 12%, 6% paid in cash, 6% paid in stock)
-
Retain profit after tax: VND12,866,547,611
Article 5: Compensation for the BOD and Supervisory Board 2007 which was equal to 2% profit after
tax:

Profit after tax: VND72,809,534,810

Total compensation: VND1,456,190,696
Article 6: Selecting Southern Auditing and Accounting Financial Consulting Services Company
Limited (AASCS) for 2008.
Article 7: Pass plan of share issuance to raise chartered capital to VND100 billion
(1) Transfer profit 2007 of VND20,142,206,400 by issuance of 2,014,220 shares. The fractional parts
after being rounded in unit will be paid in cash.
(2) The remaining capital will be done through share issuance
(3) Raise of chartered capital is done by stages of share issuance.
(4) Authorize the BOD to implement procedures of issuance
a. Make plan of issuance, decide offering objects and price at the issuing time
b. Process the fractional parts in the issuance
c. Set criteria to choose key employees and strategic investors for issuance
Article 8: Listing additional shares on HOSE
Article 9: Pass amendment of regulations
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