On 10 January 2019, at Phu My Fertilizer Plant, PetroVietnam Fertilizer and ChemicalsCorporation(PVFCCo – securities code DPM) held an extraordinary session 2019 of the General Meeting of Shareholders with the attendance of shareholders owning 81.9% of voting shares.

In the working program, the General Meeting of Shareholders considered and commented on the following proposals: determining the office term of some members of the Board of Directors (BOD) and Supervisory Board; dismissing 2 BOD members; election of BOD members; adjusting some business plan targets in 2018 and amending and supplementing the Corporation Charter. The above contents were approved by the General Meeting of Shareholders with a high number of agreeing votes.

Regarding the business plan 2018, the General Meeting of Shareholders approved a plan to adjust some targets in a positive direction, with the financial indicators growing higher than the plan announced in early 2018. In which, revenue The revenue is predicted to increase by 5.5 %, from VND 8,577 billion to VND 9,050 billion, and the profit after taxes to rise by 67%, from VND 371 billion to VND 620 billion. In addition to its financial targets, in order to be flexible with the circumstance of the production and the year-end crop of 2018, PVFCCo also adjusted a number of production and trading targets for its products, the detailed adjustments are as follows: The output of Phu My Urea would be 800,000 tons; the production and trading volumes of Phu My NPK products produced by PVFCCo chemical technology plant would be 50,000 tons and 35,000 tons; UFC85 production output would be 13,000 tons.

In order to ensure updates of the Corporation Charter in accordance with the new provisions of the Enterprise Law 2014, Decree No. 71/2017/ND-CP and based on actual requirements in the management and administration of PVFCCo, the General Meeting of Shareholders has approved the amendment and supplement of the Charter as follows: increasing the number of BOD members from 5 to 6 people instead of maximum 5 people as previouly; no provisions on the title of Vice Chairman of the BOD (Article 27, Article 29). In order to ensure the completeness and integrity of the document form as well as ensure a uniform understanding, in line with the will of the General Meeting of Shareholders, the General Meeting of Shareholders also approved the 5-year office term from 2016-2021 of the two BOD members who are Mr. Doan Van Nhuom, Mr. Louis T Nguyen and Mr. Huynh Kim Nhan, a Supervisor. The General Meeting of Shareholders also approved the resignation of BOD members who are Mr. Doan Van Nhuom and Ms. Nguyen Thi Hien, representatives of the capital of Vietnam Oil and Gas Group(PVN) at PVFCCo, according to the mobilization of PVN to assume duties in other PVN units, thus sending a resignation application in accordance with regulations.

According to the election results at the General Meeting of Shareholders and the session of the BOD, the PVFCCo’s BOD has now been strengthened and has 02 independent BOD members, meeting current regulations. Specifically:

                – Mr. Nguyen Tien Vinh – BOD Chairman

                – Mr. Le Cu Tan – BOD member

                – Mr. Nguyen Hong Vinh – BOD member

                – Mr. Le Minh Hong – BOD member (independent)

                – Mr. Louis T Nguyen – BOD member (independent)

The PVFCCo’s BOD members have been all experienced and have held many important senior positions in the oil and gas, fertilizer, chemical and financial industries. In particular, Mr. Nguyen Tien Vinh – BOD Chairman has had more than 30 years of working in the oil&gas industry with the highest position as a Member of Vietnam Oil and Gas Group’s Board of Members. Not only holding a high level of professional qualification – PhD, he is also a well-trained on Master of Business Administration at the Asian Institute of Technology (AIT). These are the basic reasons for Mr. Nguyen Tien Vinh to be trusted and elected as the new BOD Chairman of PVFCCo.

Speaking after accepting the position of BOD Chairman of PVFCCo, Mr. Nguyen Tien Vinh emphasized: “With the new position and responsibility at PVFCCo, I, together with PVFCCo BOD and Management Board members, commit to make efforts to implement tasks assigned by the General Meeting of Shareholders with a sense of responsibility, integrity, honesty, objectivity, transparency, compliance with laws, regulations and Charter of the Corporation; continue to improve the advanced management model, improve human resources and promote the culture that PVFCCo has built in recent years to ensure efficient production and business, making PVFCCo more and more developed and maximizing benefits for shareholders. ”

Mr. Le Cu Tan, a BOD member, former BOD Chairman of PVFCCo, was appointed by the BOD as PVFCCo’s President&CEOto replace Mr. Doan Van Nhuom, who has just resigned. With 5 years in charge of PVFCCo’s BOD Chairman, Mr. Le Cu Tan has made great contributions to PVFCCo, and with his experience in both management and administration, Mr. Le Cu Tan is expected to fulfill a new role.

The Resolution and Minutes of the meetings will be finalized and disclosed to shareholders in accordance with the law and the PVFCCo’s Charter.

Here are some photos at the meeting: