In this morning (6/4), Bamboo Capital JSC (Code: BGC-HoSE) has a meeting to investors in HCM Stock Exchange.

Mr. Nguyen Ho Nam, the company’s permanent Vice Chairman, said the Executive Board has bought more BCG shares by individual resource mobilized from collateral loan of the family. Up to the present,  internal shareholders holds approximately 35% of BCG Charter capital and will definitely increase equity.

Regarding BCG share, talking about the Board of Directors committing to receive bonuses only when the market price is VND 15000, Mr. Ho Nam considered that the action is for benefits of shareholders.

In 2016, the remuneration of permanent Members of the Board is expected to VND 10 million/person/month and an independent Members of the Board is VND 5 million/person/month. In addition, if complete the profit target, the Board of Directors will be rewarded 2% of difference of the profit after tax compared and the target profit after tax. Especially, the prerequisite is that the share price is more than VND 15,000/share the Board of Directors is entitled to bonuses.

Specifically, in 2016 annual shareholder meeting of the company, shareholders expressed their annoyance with a decline in BCG share price, in quite negative response.  “We are both Members of the Board and major shareholders, we annoy at the stand of shareholders, too.  We discuss quickly and boldly make commitment that we receive bonus only when the market price is higher than VND 15,000/share “. In addition, Mr. Ho Nam said that if shareholders are concerned about adjustment of shares, the Board of Directors will ask the shareholders’ opinions on this issue.

At present, Bamboo Capital has not intended to buy back treasury shares. For news of shares declining, Mr. Nam said that when the share price falls, investors fall into the spiral of margin, huge selling pressure. Up to date, sale of shares may be completed when the share price falls below 8000/share and maybe this is the last stage of this margin.

According to disclosure by Mr. Nam, there are currently two investors and a foreign fund has given intention to increase owned stock at BCG, so share price is expected to be go up in the coming time. Thus, low share price may be an opportunity for many investors to invest with the price they consider to be reasonable.

Bamboo Capital operates multi-sectors with, short term, medium and long term strategies. Mr Nam said, in the short term, the Company does business in commerce, using the available products of the company’s members, thus capital is flexible, efficient in the short term.

In the medium term, the Company will invest in buying and selling businesses, choosing medium-sized enterprises with high growth potential, having both a brand reputation and stable customer base. After that, BCG will withdraw capital when listing but maintain the holding rate of 30% to ensure the mainstream in this business. In the long term, the Company made investment in the projects of garbage, thermal power with low risk to create a stable source of revenue with the long term.

According to Khong Chiem

Nguoi Dong Hanh