FPT finishes restructuring three member companies
FPT’s three subsidiaries were completely shifted from joint stock company to limited company on September 9.
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15/09/2011
FPT Information System (FPT IS) completed the transformation on September 9, one week after FPT Trading Group and FPT Software finished this major task on August 31.
The shifting to one member limited company model wholy and solely owned by FPT will not affect their normal operation and business domains.
FPT used to hold 92,26%, 66,07% and 91,79% of charter capital of FPT IS, FPT Software and FPT Trading, respectively.
Under the restructure plan, FPT bought shares from other shareholders of these companies to claim full ownership of their charter capital by issuing another 19,830,986 shares for swapping, 4,252,372 of which were exchanged at the ratio of 1:1.22 for 3,485,551 FPT IS shares; 12,794,014 for 12,794,014 FPT Software shares (ratio1:1) and 2,784,600 for 3,060,000 FPT Trading shares at 1:0.91.
According to the Corporation’s 2011 business plan, after being restructured, these three subsidiaries are expected to increase this year net profit by 11,2%.
The restructure plan was proposed and approved in the 2011 General Shareholders Meeting of FPT Corporation.
