TienPhongBank increases its charter capital up to 1,750 billion VNDs

On June 18, 2009, the AGM of TienPhongBank in its extraordinary meeting decided on and approved some important issues such as charter capital increase projects of TienPhongBank in 2009.

•

01/07/2009

Mr. Le Quang Tien, Chairman of TienPhongBank’s Management Board, is making a presentation at the extraordinary shareholders’ meeting

Acccording to this resolution, the added capital in 2009 will be 750 billion VNDs, increasing the charter capital of TienPhongBank up to 1,750 billion VNDs at the end of 2009, and the capital increase process will be divided into two phases.

In Phase 1, shares will be issued to new investors who are domestic and international economic organizations under the permission of the government’s authoritative agencies. The number of shares for sales in Phase 1 is 25 million new shares, equivalent to 250 billion VNDs of the nominal value, accounting for 20% of the new charter capital of 1,250 billion VNDs of TienPhongBank. The prices of the issued shares will be agreed on by TienPhongBank and investors, but will not be lower than 15,000 VNDs/share.

In Phase 2, more shares will be issued to the current shareholders (up to the issuing time) on the basis of the percentage of owned shares. The number of issued shares will be 50 million new shares, equivalent to 500 billion VNDs of the nominal value. The prices of the issued shares will be equal to the nominal value (10,000 VNDs/share).

For information about the resolution of the extraordinary shareholders’ meeting of TienPhongBank, click here .