Loc Phat Vietnam Commercial Joint Stock Bank (LPBank - HoSE: LPB) has just announced information on changing the time to hold the 2024 Extraordinary General Meeting of Shareholders.
Accordingly, LPBank will postpone the extraordinary General Meeting of Shareholders from September 22, 2024 to November 15, 2024. The expected venue is still on the 4th floor, LPB Tower, 210 Tran Quang Khai, Hoan Kiem District, Hanoi.
Participants are LPBank shareholders whose names are on the shareholder list prepared by Vietnam Securities Depository and Clearing Corporation on the shareholder list closing date of July 1, 2024.
The reason for changing the time of the General Meeting of Shareholders given by LPBank is for the Board of Directors to complete the documents to be submitted to the meeting.
LPBank changes the time to hold the extraordinary General Meeting of Shareholders from September 22 to November 15, 2024.
Previously, on September 19, LPBank added documents to the General Meeting of Shareholders on the expected approval of capital contribution and share purchase. Specifically, in the information submission, in addition to the central role of banking business activities, investing in listed stocks will help the bank diversify investment channels and optimize shareholder capital.
Through assessment, the Board of Directors found that FPT Corporation (HoSE: FPT) shares have the potential to bring attractive profit margins based on the fact that FPT is a leading technology company in Vietnam, has a sustainable business foundation with high growth rates maintained over a long period of time.
In addition, FPT stock is one of the few stocks that has maintained a steady increase in price over the years and paid dividends regularly. Currently, FPT stock has good liquidity and is a component of the VN30 index.
On that basis, LPBank plans to invest a maximum of 5% of FPT's charter capital at the time of implementation and execution of the share purchase transaction, and the total investment value shall not exceed the permitted investment ratio as prescribed by law.
The expected time for implementing the share purchase is in 2024, 2025 or at a suitable time after approval from competent state agencies, legal regulations and actual situation.
In addition to the above additional content, LPBank's Board of Directors also considered submitting to the General Meeting of Shareholders for approval an adjustment to the plan to increase charter capital in 2024 through the form of issuing shares to pay dividends.
The source of money will be taken from undistributed profit after tax in 2023 with an expected dividend payout ratio of 16.8%. If this plan is approved, the bank's charter capital will increase from VND25,576 billion to more than VND29,873 billion.
Another notable content at the extraordinary General Meeting of Shareholders in September 2024 is that the bank will submit to shareholders for approval the election of additional members of the Board of Directors after being approved by the State Bank.
Source: https://www.nguoiduatin.vn/lpbank-doi-lich-hop-dhdcd-bat-thuong-sang-thang-11-2024-204240921221008832.htm
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