Shareholders voting at the meeting
It was also attended by representatives of the Government Office, Ministry of Industry and Trade, Ministry of Finance and Vietnam National Oil and Gas Group.
The event approved some important contents such as: regulations and operation of BSR, plan to develop the company for the 2018-2020 period and plan for business and production in 2018, the number of members of the Board of Directors and Board of Supervisors for the first term from 2018 to 2020, salary plan and selection of auditors for financial statements in 2018.
At the meeting, shareholders asked many questions for the Presidium, such as: setting plan for the following years, announcing information and roadmap for divestment, progress of expanding and upgrading Dung Quat Oil Refinery Plant, and financial information for BSR.
The meeting voted 5 members of the BSR Board of Directors for the first term, including: Mr. Ha Dong, member of the BSR Board of Members; Mr. Nguyen Quang Hoa, member of the BSR Board of Members; Mr. Le Xuan Huyen, Chairman of the BSR Board of Members; Tran Ngoc Nguyen, BSR General Director; and Mr. Nguyen Ba Phuoc from the PetroVietnam’s Oil and Gas Exploitation Department.
Photo for illustration.
The BSR Board of Directors and Board of Supervisors held the first session and agreed to vote Mr. Le Xuan Huyen as Chairman of the Board of Directors, Mr. Tran Ngoc Nguyen as member of the Board of Directors and General Director.
Earlier, on April 18th, 2018, BSR’s Board of Members issued Resolution 1235/NQ-BSR approving the result of defining the value of contributed capital and plan of divestment of BSR in PetroVietnam Building and Commercial Joint Stock Company (PV Building). Total asset value of the company is over VND271.39 billion.
The divestment plan is part of the restructuring route of BSR for the 2016-2020 period, approved in Resolution 2616/NQ-DKVN dated December 31st, 2016 of PetroVietnam’s Board of Members. Accordingly, BSR will divest capital from PV Building to 51% of its charter capital and be listed on the stock exchange in 2018.
Accordingly, there are more than 5.65 million shares to be sold in the second quarter of 2018, equivalent to 32.26% of shares of PV Building, with the starting price of VND12,672 a share. Sales of shares will be auctioned publicly at the Hanoi Stock Exchange.
In recent years, PV Building saw a moderate growth rate. In 2017, net revenue reached VND607.1 billion and profit after tax posted VND13.6 billion, equivalent to 110.24% of profit after tax in 2016./.