ITA GROUP announces issuance of stock dividend shares for the second phase of 2007 and bonus shares for employees
The Tan Tao Investment & Industry Corporation announces issuance of stock dividend shares for the second phase of 2007 and bonus shares for employees.
- Name of issuing organization: TAN TAO INVESTMENT & INDUSTRY CORPORATION
- International trading name: TAN TAO INVESTMENT & INDUSTRY CORPORATION (ITACO)
- Chartered capital: VND 1,149,997,300,000
- Head office: Tan Tao Industrial Park, Tan Tao A Ward, Binh Tan district, Ho Chi Minh City.
- Tel: (84.8) 7505 171 Fax: (84.8) 7508 237
- The Business Register Certificate N0 4103001108 issued by the Ho Chi Minh City Planning & Investment Department on July 15, 2002.
- Method of share issuance
- Stock name: Share of Tan Tao Investment & Industry Corporation
- Stock type: Common share. Par value: VND 10,000
- Issuing volume: 20,919,960 shares.
- Total value of the issuance: (face value): VND 209,199,600,000
- Purpose of the issuance: Issuing stock dividend shares for the second phase of 2007 and bonus shares for employees and Board of Directors.
- Source of the issuance: From undistributed retained profit for year 2007.
- Distribution form:
The issuance of 17,249,960 stock dividend shares for the second phase of 2007 is implemented for existing shareholders at the ratio of 15% (each shareholder holding every 100 shares will receive 15 new shares).The number of the issued shares will be rounded down to the ones. The fractional shares after being rounded down (if any) will be bought back by the Company to make treasury shares at the face value of VND 10,000/share.
Owners of right offering to stock dividend share are not allowed to transfer their right offering to stock dividend share to others.
The issuance of 3,670,000 bonus shares for employees, Board of Directors, persons contributing to Company‘s business results in 2007 (according to the list approved by the ITACO Board of Management).
Notes for the investors trading ITACO shares: The rewarding of 3,670,000 shares for employees, Board of Management and persons contributing to the ITACO‘s 2007 business results will not be adjusted to ITA shares‘ market value on the Ho Chi Minh City Stock Exchange. However, the bonus shares will raise the number of its outstanding shares with an additional 3,670,000 shares, therefore, it will correlatively reduce share price.
Schedule and procedure of exercising right offering to stock dividend shares and bonus shares
- Record date of right distribution list: October 1, 2008.
- Date of paying fractional shares: October 20, 2008.
- Expected date of issuance: October 30, 2008.
On the distributing date of additional issued shares, all shareholders in the final list with rights offering to stock dividend share will be receiving additional issued shares at the ratio of distribution.
For shareholders who have deposited, depositing member will enter additional issued shares into unlisted share depositing accounts. When the shares are officially announced to be listed, the depositing members will automatically transfer the above number of shares into the investor’s listed shares account.
For non-depositing shareholders, the additional issued shares will be directly distributed at the Tan Tao Investment & Industry Corporation (above mentioned address).
The bonus shares for employees, Board of Directors, individuals will be distributed according to the list approved by the ITACO‘s Board of Management.