CONINCO – Press release of the 2023 annual general meeting of shareholders of the Company
Consultant and Inspection Joint Stock Company of Construction Technology and Equipment (CONINCO., JSC) respectfully announces to State management agencies, Press agencies, Professional associations, Customers, Partners, Employees, and Shareholders of the Company "Press Release on the results of the 2023 Annual General Meeting of Shareholders" as follows:
The Consultant and Inspection Joint Stock Company of Construction Technology and Equipment (CONINCO., JSC) (from now on referred to as CONINCO) has its head office at No. 4, Ton That Tung Street, Trung Tu Ward, Dong Da District, Hanoi City.
- Business registration number: 0100106169
- Stock code: CNN
- Telephone: 024.38523706
Press release to State management agencies, Press agencies, Professional associations, Customers, Partners, Employees, and Shareholders about the 2023 Annual General Meeting of Shareholders as follows:
I/ Summary of information
The Consultant and Inspection Joint Stock Company of Construction Technology and Equipment (CONINCO., JSC) was originally a research institute under the Ministry of Construction, established in April 1979 and converted into a first-grade construction consulting enterprise under the Ministry of Construction in June 1994. In December 2006, the Ministry of Construction approved transforming Company's form into a joint-stock company. On January 24, 2007, CONINCO was granted a business registration as a joint-stock company and operated under the Enterprise Law and the Company Charter. Currently, CONINCO is a public joint-stock company, and its shares (stock code: CNN) are traded on the UPCOM market, with a charter capital of VND 88,000,000,000 (eighty-eight billion VND). The Vietnam National Construction Consultant Corporation - JSC (VNCC) holds 19.7% of the shares, while other shareholders (organizations and individuals) have 80.3%. As of May 2023, there are nearly 1,500 employees in the CONINCO system.
In compliance with the Enterprise Law and the Charter of CONINCO, on May 15, 2023, CONINCO successfully organized the 2023 Annual General Meeting of Shareholders following the provisions of the Company Charter and in line with the legal regulations on information disclosure to state management agencies and shareholders.
The Meeting was chaired by Mr. Nguyen Van Cong - Chairman of the Board of Directors. The results of production and business activities in 2022 basically exceeded the primary targets (Total revenue; Profit before tax; Average income of employees, state budget contributions, etc.) set by the Resolution of the 2022 Annual General Meeting of Shareholders. At the same time, the 2023 production and business plan set a higher growth rate than in 2022. This result demonstrates the proper direction and management of the Board of Directors, the Executive Board, and the efforts of all CONINCO employees over time.
The Consultant and Inspection Joint Stock Company of Construction Technology and Equipment (CONINCO., JSC) affirms that the 2023 Annual General Meeting of Shareholders was organized under regulations, with the participation of 40 shareholders representing 99.27% of the charter capital.
II/ Summary of the General Meeting:
At the Meeting, the Organizing Committee voted by a show of hands from the shareholders on the contents and agenda of the Meeting. The consensus rate was 100%.
On behalf of the Chairman, the Company's functional departments read the documents and contents in the agenda approved by the Meeting.
During the discussion, some shareholders, who own 0.12% of the total issued shares, and 03 shareholders, who are employees of the Company, had opinions. The Chairman and the persons in charge of the related fields answered and clarified the shareholders' questions within the authority of the 2023 Annual General Meeting of Shareholders.
The representative of the VNCC shareholder expressed some opinions and contributions to the Meeting.
After the discussion, the shareholders proceeded to vote with the following results:
Approving the Reports at the Meeting: Achieving a 100% approval rate
- Report on 2022 activities of the Board of Directors.
- Report on 2022 activities of the Supervisory Board.
Approving the proposals at the Meeting:
- The Combined Financial Statements 2022 was audited by International Auditing Company Limited; the Approval rate was 81.48%.
- 2022 profit distribution plan; Approval rate 99.45%.
- The 2023 production and business plan, 2023 Profit distribution plan; Approval rate 82.8%.
- Approve the remuneration settlement in 2022 and the Remuneration Plan for the Board of Directors and the Supervisory Board in 2023; Approval rate 99.88%.
- Approve the list of independent auditing companies according to the proposal and authorize the Chairman of the Board of Directors to choose one of the independent auditing companies for the financial year 2023; Approval rate 77.06%.
- Approve some amendments to the Charter of Organization and Operation of the Consultant and Inspection Joint Stock Company of Construction Technology and Equipment (CONINCO., JSC). The approval rate is 77.07%.
- Approve the foreign investor Room Lock at 0% based on Decree 31/2021/ND-CP, Article 17, Clause 2, and Appendix I Clause A providing detailed regulations and guidance on the implementation of the Law on Investment 2020, the sector "Service activities of sending Vietnamese workers to work abroad under contracts" is in the list of sectors not yet open to foreign investors. The Approval rate is 94.14%.
The General Meeting's minutes (Minutes, Resolutions, and related documents) have been made public in compliance with the Securities Law.
To avoid misinformation that has started to appear after the 2023 Annual General Meeting of Shareholders, which could affect the CONINCO brand and the personal reputation of those involved, CONINCO affirms that the 2023 Annual General Meeting of Shareholders was held in accordance with the Company's Charter and current laws, was transparent, and obtained the consensus of the majority of shareholders.
To ensure accurate information regarding the 2023 Annual General Meeting of Shareholders, CONINCO would like to confirm that the Meeting was held following the Company's Charter and applicable laws. The Meeting was transparent and achieved the consensus of the majority of shareholders.
All contents approved at the General Meeting were approved by the majority of shareholders, surpassing the percentage of votes required by the General Meeting's Regulations, Charter, and law provisions.
By this Announcement, CONINCO affirms the information of the General Meeting and hopes to receive support from State management agencies, Press agencies, Professional associations, Customers, Partners, Employees, and Shareholders in the coming time.
We are committed to continuing our efforts to develop the construction industry, including the CONINCO brand, and to bring sustainable benefits to our customers, employees, and shareholders.
Signed by Mr. Phan Ngoc Cuong - General Director of CONINCO.
Dated: May 18, 2023
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