Tan Tao Group's 2008 General Shareholders Meeting a Success

The attendants of the meeting included Ms. Dang Thi Hoang Yen, Chairwoman of the Management Board; Members of the Board of Directors; Mr. Lean Chee Yeow (Mr. William Lean) of VOF Investment Ltd representing the Group‘s strategic shareholder; and other existing shareholders.

Mr. Thai Van Men, President of Tan Tao Group, reported the results of production and business activities in 2007 and announced the group's business plans for 2008. Ms. Nguyen Thi Suong, Vice-President of Finance, reported the Financial Statement of 2007 audited by the A&C Auditing Company.

President Thai Van Men reported the business and production results in 2007

The General Shareholders Meeting approved the Management Board‘s statement on amending the Corporation‘s Charter and an announcement concerning the regulation of information, the supplementing of two members to the Supervision Board and the addition of three new members to the Management Board. In response to the opinions of shareholders on the Charter amendment, Ms Dang Thi Hoang Yen said: “ITA shares are prepared to be listed on foreign stock exchange, specifically the Singapore Stock Exchange, so the Charter has to comply with Vietnamese law and international laws, in particular the laws of the markets in which ITA's shares are projected to be listed.”

Chairpersons of the Meeting: Ms. Dang Quang Hanh, Mr. Thai Van Men, Ms. Dang Thi Hoang Yen, Mr. William Lean and Ms. Nguyen Thi Ngoc Chau

The General Shareholders Meeting elected three members to the new Management Board. Accordingly, the 2008 Management Board of the Tan Tao Group includes Ms. Dang Thi Hoang Yen, Chairwoman, representative of contributed capital of Tan Dong Phuong Company; Mr. William Lean, Member, representing the contributed capital of VOF Investment Ltd; Mr. Nguyen Thanh Phong, Member representing the contributed capital of the Southern Corporation; Mr. Dang Thanh Tam, independent Member; Mr. Nguyen Tuan Minh, independent Member; Ms. Nguyen Thi Ngoc Chau, Independent Member and Mr. Dang Quang Hanh, Member and Vice-president of Tan Tao Group.

ITA Group ‘s shareholders at the Annual General Shareholders Meeting 2008

By the end of 2007, after the successful issuance of VND 200 billion to raise the charter capital of the Tan Tao Investment Industrial Corporation up to VND 1,000 billion, Tan Tao Group has completed over the target of the year 2007 with VND 989 billion in total revenue and VND 371 billion profit after tax deductions, increasing 2.5 times as much as the profit in 2006.

Shareholders raises questions

"Ms. Dang Thi Hoang Yen (right) answers questions from shareholders. Picture: Nguyen Trung"

In 2008, the Tan Tao Group will continue to carry out its strategic targets of the past 12 years. The Tan Tao Group continues to be the leading industrial park developer across the country and has also become a leading group in the development of infrastructure, industry and finance in Vietnam. Following the targets, the Management Board proposed the plans in 2008 to increase the charter capital up to VND 2,000 billion, to achieve at least VND 600 billion profit after tax and to attain a 30% dividend ratio and to extract VND 200 billion of surplus capital to distribute to shareholders.

Congratulation to the success of the Annual General Shareholders Meeting of Tan Tao Group

The Tan Tao Group has set the important goal of listing ITA shares on foreign stock exchanges within the next year. For the past six months, Tan Tao Group has positively worked with consultants, auditing companies and leading world groups to complete the stringent procedures of international financial markets to make the operation of Tan Tao Group conform to international operating standards.