On April 23, 2023, at the 11th Floor Hall, Building C47 – Hai Au Bien Cuong Hotel, #8 Bien Cuong Str., Quy Nhon city, Binh Dinh province, Construction Joint Stock Company 47 (HOSE: C47) held the 2023 Annual General Meeting of Shareholders. Attending the Meeting were 36 ownership and authorized delegates represented 14,503,734 voting shares, accounting for 52.68% of total number of voting shares.
The General Meeting heard the 2022 Operating Reports of the Board of Directors (BOD), the Audit Committee and the 2023 Operating Plan; the proposals of the Board of Directors to the General Meeting.
In 2022, with the overall context of the economy facing many difficulties, the financial and credit situation is tight, the Client’s disbursement for some projects and works is still slow, affecting the cash flow for production activities. The Board of Directors has made great efforts, always closely following the actual situation, production and business conditions, flexibly and promptly responding to the Company’s production activities in each period, in order to ensure the construction progress of the projects, especially key works to be completed for taking-over and plans for the flood overcome such as Dong Mit Reservoir, Phu Phong Weir (Binh Dinh province), etc. From the beginning of 2023, the Board of Directors directed the Executive Board concentrate resources to speed up the construction progress, research and innovate the construction methods, saving costs for the ongoing projects such as: Hoa Phat Dung Quat 2 Iron and Steel Complex Project (Quang Ngai province), the projects of Phu Phong weir, Cat Tien – Diem Van highway, Becamex Binh Dinh IP, Tan An – Dap Da Irrigation system (Binh Dinh province), Hoa Binh hydropower plant expansion project (Hoa Binh province), Nam Phak hydropower project (Lao PDR) and continue to bid for new projects, especially exploiting the tourism, hotel and restaurant sectors (Seagull hotel, 4-stars and Hai Au Bien Cuong hotel, 3 stars) to increase revenue and profit, ensuring the harmony of interests of Shareholders and the Company in 2023, shared by Chairman Pham Nam Phong.
At the Meeting, the Board of Directors of C47 submitted to the General Meeting the 2023 business plan with total revenue: VND 1,000 billion, profit after tax of VND 25 billion and a minimum dividend payment rate of 5%, form of payment in cash or shares.
At the same time, the Board of Directors of C47 also submitted to the General Meeting to approve other important contents such as: Audited financial statements for 2022; Select an audit unit to review the semi-annual financial statements and audit the financial statements for 2023; plan to pay remuneration to the Board of Directors in 2022 and 2023; The plan to issue the shares to pay dividends in 2022 at the rate of 10%; amending the internal regulations on corporate governance, operating regulations of the Board of Directors and unanimously approved by all shareholders with the rate of 99.98%.
Noted at this Meeting, shareholders highly appreciated the efforts and stable and sustainable development of C47; At the same time, expressed desire to continue to support and assign the Board of Directors and the Executive Board to be proactive in management and administration, contributing to the development of C47 and bringing the practical benefits to employees and shareholders.
Some more pictures at the Meeting:
C47