Disclosure Information Detail

Logo:
Issue Code:LA3000030004
Disclosure Organization:Lao World Public Company
Disclosure Date:02-05-2017
Disclosure Time:10:09:11
Disclosure Title:Notification of the Important Resolution of the Annual General Shareholders’ Meeting for the year 2016
Disclosure Type:Timely Disclosure
Disclosure Reason:Resolution of Annual General Shareholders' meeting
Market Classification:Listed Company
Disclosure Detail:

  

Lao World Public Company (“the Company”) would like to notify the Important Resolution of the Annual General Shareholders’ Meeting for the year 2016 on 28 April 2017 as follow:

 

1. Agenda 1: Reporting the progress of work for the project that had been approved in last year related to Thong Khun kham Market which has details below;

 

  • Investment in construction for developing the old Thong Khun Kham market to be a modern Thong Khun Kham Market mall. As at 31 December 2016, the Company has completed the construction of main building and alongside buildings at 98% of the total plan with total value of construction of Kip 124.9 billion.

 

  • As at 31 December 2016, the number of booking areas was shown as 98% for the first floor and 100% (64 rooms) for alongside buildings. Total value of deposit amount is kip 132 billion.

 

Moreover, there was the pre-opening for Thong Khun Kham Market on 1 April 2017 and this will be reported in the Annual General Shareholders’ Meeting for the year 2016.

 

2. Agenda 2: Considering of New Board of Director who will replace for the
current board member who will retire in 2016 in order to perform the work
in the year 2017. Those members are listed below;

 

  1. Mr. Sounthone Manotham, Vice Chairman of Board of Director, Independence Committee and Chairman of Internal Audit Committee.
  2. Ms. Phaiphanorm Nyuivarnixorvong, Member of Board of Director.

For the completion term of above 2 members, there will not be the new persons to replace for the term in 2017, the listing of directors in 2017 will comprise only 5 persons and this will be reported in the Annual General Shareholders’ Meeting for approval.

Resolution: The meeting considered and approved with total score of the attentive shareholder:

  • Approved with 38,171,911 votes equivalent to 100% of total votes that attend the meeting

 

3. Agenda 3: Considering for the results from the business operation for the year 2016 including the audited financial statement by external auditor and will report in the Annual General Shareholders’ Meeting for approval.

Resolution: The meeting considered and approved with total score of the attentive shareholder:

  • Approved with 38,171,911 votes equivalent to 100% of total votes that attend the meeting

 

4. Agenda 4: Considering to make the dividend payment from the business operation in 2016, after a deduction for legal reserves, to shareholders who listed in the book of shareholders on the closing date (10 April 2017)to determine the right of shareholders to receive the dividend at 100 Kip per share, the total dividend to be paid is Kip 3,956,090,900 and the date for dividend payment to the shareholders is on 29 May 2017 and will be reported to Annual General Shareholders’ Meeting for the year 2016 for approval.

Resolution: The meeting considered and approved with total score of the attentive shareholder:

  • Approved with 38,171,911 votes equivalent to 100% of total votes that attend the meeting

 

5. Agenda 5: Considering to appoint the External Auditor who is the PricewaterhouseCoopers (Lao) Sole Company Limited to continue an auditing for the year 2017 with the agreed fees of USD 70,000 and will be reported to Annual General Shareholders’ Meeting for the year 2016 for approval.

Resolution: The meeting considered and approved with total score of the attentive shareholder:

  • Approved with 38,171,911 votes equivalent to 100% of total votes that attend the meeting

 

6. Agenda 6: Considering to get approved the basic salary of Lao World Public Company’s staff at the increasing rate of 5% in the year 2017.

Resolution: The meeting considered and approved with total score of the attentive shareholder:

  • Approved with 38,171,911 votes equivalent to 100% of total votes that attend the meeting

 

 

Please be informed accordingly for reporting purpose.

                                                                        Sincerely Yours,

                                                                    Chairman of meeting

                                                             Mr. Sackchai WONGMALASITH

 

Other reference:
  • Pursuant to the Decision of Lao Securities Commission Office to the Regulation on Reporting and Disclosure No.007/LSCO dated 3 April 2014.
  • Pursuant to the Disclosure Regulation of Lao Securities Exchange No.22/LSX dated 7 January 2011.

Attached File(s)

Resolution of AGM 2016 on 28-04-2017 - eng.pdf
Resolution of AGM 2016 on 28-04-2017 - lao.pdf