On 05 April 2016, the 2016 Annual General Meeting of Shareholders of Bamboo Capital Joint Stocks Company took place at Kim Do Hotel, 133 Nguyen Hue, Ho Chi Minh City with the attendance of more than 90% of total voting stocks.
The General Meeting has approved some important contents such as 2016 Plan of production and business; of capital mobilization for the company’s trade, production and business activities; additions to business sections and amendments, additions to the Company Articles; additionally appointment members for Board of Directors and Supervisory Board; adjustment for options of share issuance; …
In which, the Board of Directors has submitted the guideline on adjusting the options for share issuance in 2016 to existing shareholders and employees. Specifically, issuance price was determined to be 10,000 VND / share, lower than the book value as at 31 December 2015 (10,466 VND/share) and higher than the average market price of the latest 10 sessions (9,150 VND/share). It is expected that all capital raised from the issuance of shares to existing shareholders which is at least 610.5 billion, will be used to invest into subsidiaries and for M & A investments as planned in 2016.
In addition, the Board of Directors has presented the General Meeting to increase the ownership ratio of foreign investors for BCG shares up to a maximum of 100% and allow foreign shareholders to dominantly own up to 50% of BCG capital without public bid procedures. One important content which has been adopted by the General Meeting was the guideline on approval of private placement of 6 million shares in 2016 to carry out swapping ownership of the company shares in foreign countries.
The General Meeting has also appointed 4 new additional members for the Board of Directors as Mr. Barry Richard Pettitt – Chairman and CEO of Ross Group, Mr. Anthony Lim – Chairman of Samcorp Capital Corporation, and two other individuals as Mr. Bui Thanh Lam and Asso. Prof. – Dr. Dang Viet Bich. In addition, BCG has passed Mr. Bui Thanh Lam’s resignation of Supervisory Board member and additionally appointed Ms. Dao Thi Thanh Hien as member for the remaining time of 2015-2020 term.
BCG Board of Directors in 2015-2020 term
BCG Supervisory Board in 2015-2020 term
Orientation in the 2015 – 2020 stage, BCG focuses on main segments such as multidisciplinary M & A, corporate consultancy- investment banking, commerce and trading services linking BCG Group value chain and project development.
In 2015, BCG reached net revenues of 975 billion and profit after tax of 52.4 billion, exceeding 94% of planned revenue and 28% planned profit. In 2016, BCG also makes a very impressive growth business plan with estimated revenue of 1,829 billion and estimated profit after tax of 75.7 billion. /.