NRC: BOD Approves to Set up Representative Office

1. The company will set up its representative office in Tokyo, Japan.

2. BOD approved to receive transfer of high building project with an area of 7,788m2 ( a part of housing project at the East of Thu Luu) at Long Toan ward, Ba Ria city, Ba Ria – Vung Tau province at transferring price of VND200 billion from Danh Khoi Holdings Investment JSC. Transferring is planned within 6 months from the date of signing contract.

3. BOD also approved plan of using fund from issuing additional shares (approved by its shareholders dated May 26, 2018) to implement receiving of the high building project as stated in the point 2, details as follows:

+ Project’s investment fund: VND678 billion

+ Total estimated revenue to be collected: VND771 billion

+ Planned net project: VND74 billion

+ Fund for investment: from issuing additional shares to its sell to its shareholders, strategic investors and ESOP as earlier approved by its shareholders ( AGM resolution dated May 26, 2018)

+ Fund use purpose: to pay for the project transfer, to pay for construction of the apartment cum commercial services.

4. BOD approved to purchase shares of VHR Investment JSC from its current shareholders, details as follows:

4.1: Information about VHR Investment JSC

+ Address: No.3 Tran Nhat Duat, Tan Dinh Ward, District 1, HCMC

+ Charter capital: VND850 billion

4.2: Netland Real Estate JSC (NRC) plans to buy at maximum of 20 million shares of VHR investment JSC from VHR investment JSC’s existing shareholders.

After the deal, NRC is expected to hold at maximum of 23.5% stake of VHR investment JSC.

Fund for the share purchase: NRC’s available fund.

Purchasing time: before June 30, 2019.