SII: BOD approves to plan stock issuance to existing shareholders

On June 05, 2019, the Board of Directors of Sai Gon Water Infrastructure Corporation approved to issue shares for existing shareholders as follows:

1. Approving the plan for stock issuance to existing shareholders:

–       Number of outstanding shares: 64,516,000 shares

–       Number of shares expected to be issued: 37,419,280 shares

–       Total value (based on par value): VND374,192,800,000

–       Charter capital after the issuance: VND1,019,352,800,000

–       Issue ratio:  100:58 (shareholder who owns 100 shares will receive 100 rights, and with every 100 rights will be entitled to purchase 58 new shares.)

–       The rights should be transferred only once

–       How to deal with fractional shares: The number of newly issued shares bought by each existing shareholder will be rounded down. The fractional shares and the shares refused to buy (if any) will be decided by the Board of Directors.

–       Offering price: VND16,900/share

–       Total proceeds from the offering: expected about VND632,385,832,000

–       Time of implementation: 2019.

2. Approving the plan for the use of the proceeds from the offering:

Total proceeds from the offering is VND632,385,832,000 which will be used for the M&A activities.