SCJ issues more shares for capital increase

VNStockNews.com - Sai Son Cement Joint Stock Co (coded SCJ) today August 31 announced resolution of shareholders meeting saying that the minimum 2009 dividend would be raised from 30% to 40%.

The company also approved a plan of issuing more shares to hike its chartered capital from 97.58 billion dong and listing on Hanoi Stock Exchange (HNX).

SCJ will issue extra 1.904 million shares to pay 2009 dividend. First off, it will advance a dividend of 40% at par according to ratio of 5:2 (two new shares for five old shares).

Moreover, another 3.904 million shares will be offered to existing shareholders and employees. In which, 2.856 million ordinary shares are transferable at a ratio of 5:3. The remaining 238,000 shares will be limited in transference within one-year.

Total capital raised from the share offering will be used to raise the investment of Nam Son cement plant with a designed capacity of 350,000 tonnes a year from 298 billion dong to 377 billion dong. These new shares will be listed on the northern floor.

On August 31, SCJ saw a ceiling rise of 1,600 dong to 25,000 dong per share.