HT1 to merge into HT2

VNStockNews.com - Ha Tien 1 Cement Joint Stock Co (coded HT1) on December 29 organised an extraordinary shareholders' meeting to pass a plan to merge into Ha Tien 2 Cement Joint Stock Co (coded HT2) whereby 100 percent shareholders of HT1 agreed to merge into HT2.

Earlier on December 21, HT2's shareholders' meeting also passed merger plan at a ratio of 77.29 percent.

After the merger, HT1 will seek State Securities Commission (SSC)'s approval to issue more 88 million shares to swap HT2-coded shares at the ratio of 1:1.

After HT1 gets approval to offer shares from SSC, within three weeks, HT1 will close the shareholder list of HT2 to carry out the merger.

Within 30 days, HT1 will finalise necessary proceedings to list additional shares.

As planned, the merger will be finished in Q1 2010.