Cotana Group held the Annual General Meeting of Shareholders in 2021

This year's General Meeting of Shareholders took place in the context of the complicated situation of Covid 19 in the world. In Vietnam, thanks to the application of drastic and effective measures, Covid 19 has been basically controlled and the economy has shown signs of recovery. Facing that situation, the Cotana Group Board of Directors promptly made strategic decisions for long-term development with the goal of helping the company recover from Covid 19 and turn to a new page when the new decade begins.


Attending the meeting, shareholders heard important reports: the report on business results in 2020 and the plan in 2021 presented by Mr. Doan Van Tuan - General Director; report on activities of the Board of Management in 2020 and the plan in 2021 presented by Mr. Dao Ngoc Thanh - Chairman of the Board. In which, in the past year, despite being affected by the Covid-19 pandemic, Cotana has taken advantage of its existing capital, being flexible and sharp in thinking to maintain stable production and business activities. Although the results were not compared with the plan, the business efficiency was significantly improved thanks to synchronous and comprehensive measures in changing the governance process, tightening the cost management costs, enhance image promotion, brand. In addition to actively looking for jobs in the field of construction, Cotana also strengthens the development of investment projects such as: Technical Infrastructure Project of Kieu Le Residential Area with an area of ​​​​7.5ha in Bim Son - Thanh Hoa; Golden Riverside project has an area of ​​33.ha in Duc Hoa - Long An; Eco-resort project - Nature museum and golf course with an area of ​​​​nearly 500 hectares in Ngu Ho - Phong Dien - Hue... especially infrastructure construction in the Ecogarden urban area project with an area of ​​45 hectares in Hue city.
 
In his speech at the General Meeting, Mr. Dao Ngoc Thanh - Chairman of the Board emphasized the future development orientation of the company including: Continue to promote construction; searching, developing long-term real estate investment projects and expanding business fields. He also especially emphasized two important factors that determine the success or failure of an enterprise: Brand and solidarity. If the brand is an intangible value but is decisive to the value of the business, solidarity, here means the solidarity within the company as well as the support of shareholders, partners and customers will be the strength for the company to overcome the turbulence in the market on the way to sustainable development.


At this General Meeting of Shareholders in 2021, there are three important issues discussed and actively participated by shareholders. One is the dividend payment rate in 2020. The second is to increase the ownership rate of CSC shares of Mr. Dao Ngoc Thanh - Chairman of the Board to no more than 50% of the Company's charter capital without having to go through the public tender procedure. Third is to increase the Company's charter capital. Many shareholders have proposed to replace the plan of paying 6% dividend in cash in 2020 to paying dividends in shares and proposed to adjust the content related to paying 6% cash dividend in 2020 to pay dividends in shares in the reports and presentations presented at the General Meeting. Therefore, the Board of Management has added a report on the plan to issue shares to pay dividends in 2020 at the rate of 6% to report to the General Meeting of Shareholders. 100% of shareholders voted in favor of approving the plan to issue shares to pay dividends in 2020 at the rate of 6%, increasing the share ownership rate of the Chairman without exceeding 50% of the Company's charter capital do not have to carry out the procedures for a public offer to buy or increase the charter capital of the Company. In addition, the shareholders also contributed some ideas related to the orientation and development of the Company such as: Suggesting the Board of Directors of the company to study the plan to associate with foreign investors to attract more capital for developing project.

 
After ½ working day urgently and seriously, all issues raised for discussion and consultation at the meeting received the support and consensus of 100% of shareholders. In which, the issue of the 2020 dividend payment rate of 6% in cash was replaced by stock dividend payment at the rate of 6%.
 
The Cotana Group Annual General Meeting of Shareholders in 2021 ended well in a high consensus, creating favorable momentum for the next steps in the strategy set out by the Board of Management.