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  • , 26/03/2016, 07:55 AM
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HOANG QUAN REAL ESTATE CORPORATION TO SUCCESSFULLY ORGANIZE THE ANNUAL GENERAL MEETING OF SHAREHOLDERS 2016

HQC – On the morning 26/03/2016, Hoang Quan Consulting - Trading - Services Real Estate Corporation (HOSE: HQC) successfully held the Annual General Assembly of Shareholders 2016 with the participation of the leaders of ministries and departments, more than 400 shareholders (equivalent to 76.6% of charter capital participating in the meeting) together with investors, partners and the media.

At the Annual General Assembly of Shareholders 2016, Hoang Quan Real Estate Corporation was pleased to welcome Mr. Le Nhi Nang - representative of the State Securities Commission; Mr. Tran Dac Sinh - Chairman of HCM City Stock Exchange; Ms. Nguyen Thi Minh Nguyet - Deputy Director of Vietnam Securities Depository Center - HCM City Branch and leaders, representatives of ministries, departments, securities firms.

26-03_1

Annual General Assembly of Shareholders 2016 - Hoang Quan Real Estate Corporation (HOSE: HQC)

In front of the general meeting, Hoang Quan Real Estate Corporation reported its investment, business results 2015 and orientations for activities and plans for 2016 with the following important issues:

ACTIVITIES OF THE CORPORATION IN 2015

With the positive changes of the market combined with the supportive policies for social housing, the operations of Hoang Quan Real Estate Corporation in 2015 had many positive changes. Impressive business results achieved a profit of 641.4 billion VND, an increase of 21 times compared to results 2014, completed the profit plans and reached the dividend target 2015 in accordance with the Resolution approved by the General Meeting of Shareholders 2015. 2015 has been the year with the best business results since the corporation officially listed its stock HQC on the Stock Exchange.

26-03_2

Shareholders registering procedures to attend the general meeting of shareholders of Hoang Quan Real Estate Corporation in 2016

After swapping the shares of 3 target corporations, Hoang Quan Real Estate Corporation currently owns 3 subsidiaries, 10 affiliates and 20 associated companies with a closed and multifunctional business process from legal capacity, design and construction to valuation, brokerage ..., optimizing the investment efficiency, benefiting customers, businesses and shareholders. The corporation has completed the payment of 30 billion VND of dividends in cash to shareholders and issuance of shares to increase its charter capital to 3,950 billion VND.

In 2015, Hoang Quan Real Estate Corporation continued maintaining its pioneer position in the development of social housing. The corporation has invested 10,000 billion VND to deploy 15 social housing projects across the southern provinces, provided 15,000 apartments to the market. At the same time, in addition to core areas of social housing, Hoang Quan Real Estate Corporation has invested and diversified its real estate products with a commercial street houses, urban areas, industrial real estate, office buildings..., to maximize the development potential of the system.

26-03_3

Dr. Truong Anh Tuan - Chairman - General Director of Hoang Quan Real Estate Corporation on behalf of the Board of Management of the Corporation reporting the investment and business results 2015

In the field of education, the corporation is currently investing in three universities, one manpower training institute, two intermediate schools and pre-school system in all projects implemented by the Corporation, in order to increase the benefit for project residents as well as build human resources for the corporation.

With the impressive growth achievements, sound financial investment, in 2015, Hoang Quan Real Estate Corporation was ranked in the Top 5 real estate businesses in sales. This Top 5 along accounts for 73% of total sales of the listed real estate group. Accordingly, during the portfolio structure Q1/2016, the shares of HQC have been selected to the list FTSE Vietnam All-Share Index and FTSE Vietnam Index, confirming the high liquidity, the attractiveness of HQC stocks on the stock exchange.

26-03_4

Mr. Le Nhi Nang - Representative of the State Securities Commission speaking at the General Assembly

ACTION ORIENTATION AND PLAN 2016

1. Revenue, Profit, Dividend Payment Plan:

Oriented as to ensure stable shareholder interests, the Board of Management proposed basic targets 2016 as follows: Revenue reaching 7,416 billion VND; Profit before tax reaching 641 billion VND; Profit after tax reaching 500 billion VND.

At the same time, the business plan 2015 exceeded the plan, the Board of Management submitted the General Meeting of Shareholders 2016 to pass the dividend payment 2015 in shares of 8%/par value shares.

26-03_5

HQC shareholders voting

2. Plan to increase charter capital to 6,000 billion VND:

The plan is as follows:

- Offering common shares to raise capital to pay dividends, with a par value of VND10,000/share. The total number of shares currently in issue is 395 million shares, is expected to offer more 31.6 million shares with a total value of 316 billion VND. Offering ratio is 8%, equivalent to the right exercising ratio 25:2.

- Offering ordinary shares to existing shareholders in the form of exercising right to buy at expected par value of 10,000 VND/share, the right exercising ratio is 4:1. It is expected to offer of 98.75 million shares with a total par value of 987.5 billion VND.

- Offering strategic partners 74.65 million shares, VND10,000/share, total value of 746.5 billion VND.

The entire capital from the offering is expected to be 1,734 billion VND, which will be used to finance the projects: HQC Tan Huong (350 billion VND), HQC Tay Ninh (350 billion VND), HQC Binh Thuan (300 billion VND) (capital contribution to business cooperation), HQC Binh Minh (150 billion VND) (capital contribution to business cooperation), HOF-HQC Ho Hoc Lam (200 billion VND) (capital contribution to business cooperation), workers’ housing, Social Housing in Ham Kiem Industrial Park (300 billion VND) (building cooperation), working capital (84 billion VND)

26-03_6

A shareholder raising questions during the discussion with the Company’s Management Board 

3. Increase of the ownership percentage among foreign investors:

Increasing the ownership percentage among foreign investors is a good opportunity for HQC shares to increase the trading liquidity, improve the Corporation's capital mobilization. Therefore, the Board called on the General Meeting of Shareholders 2016 to decide on the time and to increase the ownership percentage among foreign investors up to 60% compared to the maximum according to the current law provisions on Vietnamese stock market .

4. Offering individually convertible bonds (HQC Bond):

It is expected in the second quarter or third quarter of 2016, Hoang Quan Real Estate Corporation will issue 5 million bonds HQC Bond (100,000 VND/bond) with a total value of 500 billion VND and use the entire money to fund the business cooperation capital for Binh Minh Port project.

HQC Bond has the one-year maturity with an interest rate of 6%/year, interest is paid annually at the end of period; conversion rate is 1:10 for HQC shares.

26-03_7

Panelists answering shareholders’ questions at the General Meeting

5. Orientation of investment, business activities in 2016:

In 2016, Hoang Quan Real Estate Corporation continues to diversify its forms of investment in real estate, on the basis of social housing as the core type, maintain stable revenue to create development platform for the projects with higher yielding rate. Regarding social housing, it will continue the success in 2015, the company will implement a series of large-scale social housing in the South by supplying the market with a minimum of 10,000 apartments/year. Continue to implement the system of pre-schools, supermarkets, clinics ... increase utilities at the projects.

Expand the search and selection of projects with high economic efficiency, in line with ability and experience of the corporation in the international market. Strengthen the system, develop in the corporation organizing model.

26-03_8

Shareholders holding ballots voting the contents of the statement in the General Meeting

VOTING RESULTS OF STATEMENT CONTENTS AT THE GENERAL MEETING

100% of the voting shareholders attending the Annual General Meeting of Shareholders 2016 of Hoang Quan Real Estate Corporation adopted the reports, the contents of the statement of the Management Board with a voting rate of 99.8% or more, including the most important contents: business results 2015; revenue and profit plan 2016; Plan to increase its charter capital to 6,000 billion VND; HQC Bond issuance; Increase of the ownership percentage among foreign investor to 60%.

SOURCE: HOÀNG QUÂN GROUP

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