Ssn: Board resolution

On 10/09/2015, Saigon Seaproducts Import Export Joint Stock Company announced the Board resolution as follows:

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  Type of share: common share
  
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  Par value: VND 10,000 per share
  
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  Transferring restriction: within 01 year from the final day of issuing share period according to the legislation.
  
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  Number of registered shares: 30,000,000 shares
  
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  The expected highest price: VND 15,000 per share
  
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  The expected lower price: VND 10,000 per share
  
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  Total capital volume expected to be mobilized: VND 300,000,000,000 (based on the approved lowest price)
  
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  Current charter capital: VND 96,000,000,000
  
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  Expected Charter capital after issuing: VND 396,000,000,000
  
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  Objects to be offered:
  

1. 
   Selection criteria:
   

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  To be domestic and foreign investors
  
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  Have the financial potential and submit to support Seaprodex Saigon for a long time.
  
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  Have permission to invest in Seaprodex Saigon according to the regulation of Law and Charter Company.
  

2. 
   Relation between offered objects and members of Board of Directors, Supervisory Board and Board of Managers: none:
   

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  Starting time: after approval of State Securities Commission of Vietnam
  
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  Finishing time: in the end of quarter IV/2015
  
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  Register to purchase share:
  

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  Number of minimum purchased shares: none
  
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  Payment method: open account to receive cash in bank according to the regulation of law.
  

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  Right and obligations of share purchaser: obey the Agreement / Contract between the Company and share purchasers and must be according to the current regulations of law and charter of the Company.
  
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  Method of using cash received from issuing period:
  

+ Invest in the enterprises in the same industry to expand the business production operation, focus on maintaining the structure of exporting into 2 main markets: Korea and EU, with the main products: pangasius, octopus, etc.

Expect capital to be used in financial investment: VND 270 – 300 billion

+ Supplement liquid capital and research to prepare to re-structure the operation of exploiting real-estate under the management of the Company, including: No. 378 Au Co and 1534 Vo Van Kiet

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  Regulation on transferring restriction: shares offered to shareholders are restricted the transfer within 01 year from the finishing day according to the legislation.
  
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  Limit on participation rate of foreign investor: obey the current legislation on participation rate of foreign investor on Vietnam Securities market.
  
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  Method of handling the remaining shares (if any): in case of finishing the issuing period, the surplus shares which cannot be distributed, will be considered as the unissued shares, Board of Directors will adjust to decreased the number of issuing share according to the actual number of shares distributed to the investors in the issuing period.
  

Authorize Mr. Nguyen Van Liem – Chairman of the Board to implement the necessary procedures to successfully offer private shares to investors according to the above method at article 1

Chairman of the Board, Board of Managers of the Company and other functional departments take responsibility for performing this resolution