HCMC, April 25, 2013 – PetroVietnam Fertilizer & Chemicals Corporation (PVFCCo – stock code DPM) successfully organized the annual General Meeting of Shareholders 2013 – a session with particularly important meaning.
Attending the meeting were 776 shareholders and representatives of 80.98% shares with voting rights. From securities management agencies, it was an honor to welcome to the meeting Ms. Tran Anh Dao – Director of Listing and Examination Department of Ho Chi Minh Stock Exchange (HOSE); from parent company – the majority shareholder of Vietnam Oil and Gas Group (PVN) was Mr. Phan Dinh Duc – member of the Board of Directors (BOD) and Ms. Tran Thi Binh – Vice Director of PVN; and especially the participation of shareholders, owners as well as ladies and gentlemen of the BOD, Board of Management, key officers of PVFCCo and its partners, journalists and representatives from Deloitte Vietnam Company Limited – the appointed auditor of PVFCCo.
Before the meeting, PVFCCo leaders had reported on the BOD’s activities, business activities in 2012, major business targets in 2013; financial statements of 2012, reporting on activities of the Board of Supervisors, and proposing the selection of auditors in 2013; profit distribution plan in 2012 and 2013; statement on the amendments and supplements to Charter of PVFCCo; as well as voting the BOD, and Board of Supervisors during the term of 2013 – 2018.
Regarding business results of 2012, it is a successful year of PVFCCo through the outstanding achievements of all targets as approved by the General Meeting of Shareholders, and achievements in many aspects: production, revenue and profits with: 13,921 billion dongs in revenue, 3,542 billion dongs in profit before tax (PBT), and hitting a record of 857 thousand tons of production prior 23 days before target. In addition to these numbers of records, PVFCCo had also conducted public relation and branding works for Phu My Fertilizer as well as exported 100 thousand tons of Phu My and Ca Mau Fertilizers in 2012, according to Mr. Cao Hoai Duong – President & CEO of PVFCCo.
2012 is also the last year in tenure (2007-2012) of the BOD and Board of Supervisors, on behalf of the BOD, Board of Supervisors, Executive Board and the entire employees of PVFCCo, Mr. Bui Minh Tien – Chairman of the BOD had delivered a speech of dismission and shown deep gratitude to leaders, management units and shareholders particularly supporting, accompanying and making outstanding achievements to make proud PVFCCo in this tenure as well as in the path of 10-year development of PVFCCo.
Regarding the business plan in 2013, PVFCCo has set out the targets of profit before tax of 2,120 billion dongs and 770,000 tons in urea production which is lower than that of 2012 as Phu My Fertilizers will conduct its annual maintenance in August of 2013. 2013 is forecast to be a tough year as there have been more new fertilizer plants on the market which makes demands over supply while the initial costs of raw materials have been increasing; PVFCCo leaders hope to keep being supported and accompanied by the shareholders.
Speaking at the meeting, Mr. Phan Dinh Duc – BOD member and representative of the parent company majority shareholder – PVN, has affirmed the important role of PVFCCo in the development of PVN and confirmed to put high priority to supply gas for Phu My Fertilizer Plant in order to produce urea for agricultural production. In addition to that, the Presidium had satisfactorily replied the concerns of stakeholders such as: gas input supply and price, new investment projects, profit distribution in 2012…
It was approved in the meeting on business plan of 2013, the amendments and supplements to Charter of PVFCCo which enhanced and expanded rights of the General Meeting of Shareholders as well as further protected the shareholders’ interests.
Particularly after the meeting, the BOD and Board of Supervisors in tenure of 2013 – 2018 have been trusted and voted as below:
Board of Directors in tenure of 2013-2018:
1. Mr. Bui Minh Tien
2. Ms. Nguyen Thi Hien
3. Mr. Cao Hoai Duong
4. Mr. Nguyen Hong Vinh
5. Mr. Dinh Quang Hoan
Board of Supervisors in tenure of 2013-2018:
1. Ms. Tran Thi Phuong Thao
2. Mr. Le Vinh Van
3. Mr. Nguyen Van Hoa
Resolution of the meeting will be formally announced according to laws.