General meeting of shareholders to establish Nghe An Water Supply Joint Stock Company

(Baonghean.vn) - On December 30, Nghe An Water Supply One Member Co., Ltd. held the first General Meeting of Shareholders to establish Nghe An Water Supply Joint Stock Company.

Attending the event were representatives of the Provincial People's Committee, the Business Innovation and Development Board and Departments, branches and sectors in the province.

Panorama of the congress. Photo: Hoang Vinh

Implementing the province's equitization policy, the Water Supply One Member Co., Ltd. has followed the prescribed procedures for equitization such as: Providing a roadmap and time for equitization; Establishing support groups; Signing contracts with auditing and consulting units, determining enterprise value...

Mr. Nguyen Ba Quy - Chairman of the Board of Directors of Nghe An Water Supply Joint Stock Company spoke at the congress. Photo: Hoang Vinh

The Provincial People's Committee has approved the enterprise value for equitization as the actual value after re-evaluation of more than VND445.7 billion and the actual value of the state capital in the enterprise of more than VND295.6 billion. Accordingly, the charter capital structure of the enterprise is 51% state-owned shares, the rest are preferential shares, sold to strategic investors, and publicly sold to the outside.

Mr. Hoang Van Hai - General Director of Water Supply Joint Stock Company spoke at the congress. Photo: Hoang Vinh

Through 2 auction sessions, the Company sold nearly 6 million shares for a total amount of nearly 85.9 billion VND (average auction value reached more than 14.5 thousand VND/share).

Launching the Board of Directors of Nghe An Water Supply Joint Stock Company. Photo: Hoang Vinh

At the congress, the Board of Directors consisting of 5 members and the Supervisory Board of 3 members were elected, and the Chairman of the Board of Directors, Vice Chairman of the Board of Directors and General Director of the Company were elected.

Water supply system capacity 60,000 m3at Hung Vinh Water Plant.

The Congress also approved the 2017 production and business plan, striving for a water production volume of nearly 33.6 million m3.³, tap water revenue of more than 193 billion VND... and passed the first shareholders' meeting resolution./.

Hoang Vinh