Specifically, the Board of Directors (BOD) of Novaland presented to shareholders a plan to issue an additional 1.95 billion shares at a 100% issuance rate to existing shareholders (shareholders owning 1 share have the right to buy 1 new share). The offering price will not be lower than VND10,000. The company is expected to offer the shares this year. Currently, NVL shares on the stock exchange are VND10,650.
The minimum amount of VND 19,501 billion will be used to restructure debt and pay off the company's due debts; pay salaries for staff; general operating costs and implement projects in which the company is the investor.
Novaland asks shareholders for approval of plan to offer more than 1.95 billion shares
In addition, Novaland will issue more than 975 million individual shares at a price not lower than VND10,000. The expected proceeds of more than VND9,750 billion will be used to contribute to the subsidiary to restructure debt and pay off the group's due debts; implement projects in which the subsidiary is the investor; pay taxes and payables to the state and supplement working capital.
The implementation time of the above two options is in 2023 or according to the decision of the Board of Directors after the State Securities Commission issues a certificate of registration for additional public offering of shares.
In addition to the offering options, Novaland's Board of Directors also plans to submit a plan to issue ESOP shares with a maximum number of 1.5% of the company's outstanding shares at the time of issuance. The offering price will not be lower than VND10,000. The offering period is until the end of 2024.
In case both issuance plans are approved and implemented 100% successfully, Novaland's charter capital will increase about 2.5 times, from nearly 19,500 billion to 48,700 billion VND.
In addition, Novaland also submitted to shareholders the authorization for the Board of Directors to decide on the negotiation and implementation of asset purchases and sales (including the purchase and sale of investments in companies), and asset swaps (including debt and commodity swaps). At the same time, assign the Board of Directors to implement all necessary tasks and procedures to ensure compliance with the provisions of law and the company's regulations to complete the above contents.
Shareholders will also be consulted on approving the authorization for the Board of Directors to decide on negotiating and adjusting conditions and contents related to capital mobilization, restructuring of mobilized capital...
Source: https://thanhnien.vn/novaland-trinh-co-dong-phuong-an-chao-ban-hon-29-ti-co-phieu-185230311090311608.htm
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