On April 19, 2019, An Tien Industries Joint Stock Company (Hose: HII) successfully held the 2019 Annual Shareholder Meeting at its head office – Southern Industrial Park, Van Tien Commune, Yen Bai City, Yen Bai Province.
The meeting reviewed the business performance in 2018 and approved the 2019 business plan, as well as the reports related to the corporate management and operation.
Exceeding 62% of the plan, increasing by 265% over the same period in 2017; 2018 revenue with significant increase
• At the 2018 Annual Shareholders Meeting, HII sets the target of 3,000 billion Vietnam dongs in revenue and 130 billion Vietnam dongs in profit. 2018 business results achieved VND 4,874 billion in revenue, exceeding 62.46% of the year plan. Profit after tax was VND 45 billion, reaching 34.62% of the original plan.
• 2018 revenue grew strongly and exceeded the original plan mainly thanks to plastic resins trading. An Thanh General Production Joint Stock Company – a HII’s subsidiary has now become the second largest distributor of plastic materials in Vietnam.
• In addition to the intensified commercial activities, the company also boosted its production and trading activities, dominating the market by increasing the operating capacity of two Calbest and stone powder plants;
• However, due to the fact that plastic resins trading activities with low profit margin have been promoted recently to build a market for plastic consumption, HII’s business results have declined; The fluctuations of USD / VND exchange rate in the year also reduced the company’s profit due to an increase in production expenses. During the year, the company promoted its sales and administration activities, leading to a rise in selling expenses and management costs, etc.
Keep improving production capacity and dominating the market
In 2019, HII is expected to reach VND 3,000 billion in consolidated revenue and VND 70 billion in consolidated profit. HII expects to pay from 10% to 20% dividend to shareholders.
In 2019, HII will continue to improve production capacity and dominate the market, restructure the company, focus on production, invest in technology, research and develop quality compounds, especially biological compounds for the production of environmentally friendly plastic products, strives to become the largest producer of plastic additives in Vietnam.
Approving the transfer of shares to restructure the company
An Phat Holdings Joint Stock Company (APH) was allowed to receive the transfer of HII’s outstanding shares currently owned by An Phat Xanh Plastic JSC (renamed from An Phat Plastic and Green Environment JSC) – AAA without performing a public tender procedure. Accordingly, APH received a transfer of 14,200,000 shares – 50.99% of HII’s charter capital from AAA. The Meeting also approved the transfer of all shares owned at An Thanh General Production JSC to An Phat Xanh Plastic Joint Stock Company – AAA. The number of shares transferred was 11,040,000, the transfer price was not lower than the face value.
Issuing 1,392,500 ESOP shares for employees
The Annual Shareholder Meeting also approved the plan to issue shares under the Employee Stock Ownership Plan (ESOP). Accordingly, HII will issue a maximum of 1,392,500 ESOP shares, the total value of per value is VND 13,925,000,000, with 5% release rate.
The issue objects are the company’s employees, to recognize their contribution, as a basis for their long-lasting staying with the company. Issue price is VND 10,000 / share. The total capital raised is expected to be VND 13,925,000,000 to supplement its working capital.
These ESOP shares will be restricted for transfer within 01 year. The number of shares that are not purchased will be decided by Board of Directors to sell to other employees within the company.
Besides the issues above, the meeting also approved other important decisions according to the report submitted to Board of Directors, as well as passing the election of an additional member Board of Directors, Mr. Doan Minh Duc, with a 4-year term, and Ms. Nguyen Thi Huyen for Supervisory Board, with a 5-year term.
The HII 2019 Annual Shareholder Meeting was successfully organized!
