FPT hold 2014 Annual General Meeting of Shareholders
In the morning of March 29, the 2014 Annual General Meeting (AGM) of Shareholders of FPT Corp was held at Hanoi Daewoo Hotel with the participation of 165 delegates.
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31/03/2014
Opening the conference, Mr. Do Cao Bao, Member of Board of Directors, presented 2013 report of Board of Directors and Remuneration budget for the Board of Directors in 2014. To deploy the globalization strategy, besides the traditional markets namely the U.S., Japan, Europe, FPT Corp would focus on developing countries such as Myanmar and Singapore.
Ending 2013 financial year, FPT reached VND 28,647 billion in revenue, an increase of 13 % growth and VND 2,516 billion in pre-tax profit, increasing by 5 %. After-tax profit of the parent company reached VND 1,608 billion. Earning per share was VND 5,858 per share. The core sectors of FPT such as software export, telecommunication services saw good growths of 24 % and 18 % respectively.
In the 2013 report of Board of Management, FPT CEO Bui Quang Ngoc confirmed most of FPT’s sectors achieved higher growths than the general growth. The globalization strategy was implemented in member companies with the overseas growth of 31%.
In 2014, FPT aimed at 11 % revenue growth and 6 % profit growth. In particular, globalization, software export, software solutions, telecom services and overall IT services would be the main engines of growth.
Some key activities of Supervisory Board in 2013 were reported by Head of Supervisory Board Nguyen Viet Thang. Accordingly, Board of Management focused on building and standardizing regulations and financial policies applied to the whole corporation.
In 2014, Supervisory Board would continue to monitor operation and finance of the company as well as enhance coordination with Board of Directors and Board of Management to ensure shareholders’ interests.
According to the profit allocation plan in 2013 presented by Vice General Director Nguyen The Phuong, payment of cash dividend for the whole year 2013: 30% (VND 3,000 per share). In particular, 15% was paid in advance in 2013. The remaining dividend would be paid after 2014 AGM gives approval for it. 25% stock dividend (issuing a new share for every 4 shares held) was recommended.
Vice General Director Chu Thanh Ha stated the issuance of shares for employees in the 2014-2016 period. The issue of restricted shares (which are restricted in three years) for employees was submitted for approval from the 2014 AGM. There would be three issues respectively in 2015, 2016 and 2017.
After the discussion session between FPT leaders and shareholders, Head of Supervisory Board Nguyen Viet Thang announced the voting result. AGM voted for Audited Financial Report of 2013, report of Directors Board, report on operation of the company in 2013 of Supervisory Board, the profit allocation plan in 2013, payment of cash dividend in 2014, the issuance of shares for employees in the 2014-2016 period, income policy for the Board of Directors in 2014, operating budget and remuneration of the Supervisory Board in 2014.
On behalf of Directors Board, FPT CEO Bui Quang Ngoc presented the resolution of the 2014 annual general shareholders meeting of FPT Corporation. The meeting minutes was also approved at the meeting.
