PetroVietnam Machinery and Equipment Joint Stock Company (PVMACHINO) holds the annual general meeting of shareholders in 2020
On May 20, 2020, PetroVietnam Machinery and Equipment Joint Stock Company (PVMACHINO) successfully held the 2020 Annual General Meeting of Shareholders at the 6th floor hall of Handico building, Pham Hung street, Nam Tu Liem, Hanoi.
In addition to the contents such as the Annual General Meetings, this year’s General Meeting summarizes the activities of the 2015-2020 term, determines the direction and tasks for the period 2020-2025, and elects the Board of Directors and the Supervisory Board. period 2020-2025.
Attending the meeting, on the side of PetroVietnam Power Corporation – JSC (PV Power – controlling shareholder) there were Mr. Nguyen Huu Quy – Member of the Board of Directors of the Corporation. On PVMACHINO’s side, there were Mr. Pham Van Hiep – Chairman of the Board of Directors; Mr. Le Ngoc Son – Member of the Board of Directors, Director of the Company; Mr./Ms. in the Supervisory Board, Executive Board, officers and employees in departments of the Company and a large number of shareholders attended. The meeting opened at 8:30 am with the presence of 63 shareholders present in person and their authorized representatives, representing 35,061,915 shares, accounting for 90.74% of the total number of voting shares.
The General Meeting heard reports on the performance results for the 2015-2020 term and the direction and tasks for the 2020-2025 term of the Board of Directors, Supervisory Board, Executive Board of the Company; Proposals to approve the 2019 audited financial statements, profit distribution plan, list of audited units in 2020, business plan in 2020, plan to list shares on the Ho Chi Minh Stock Exchange (HOSE)… Reporting to shareholders, the Chairman of the Board of Directors and the Director of the Company said that many targets planned from 2015 to 2019 PVMACHINO have exceeded; Dividend payout ratio increased from 4% in 2015 to 8% in 2019. Regarding the plan for the period of 2020-2025, PVMACHINO set a growth target for all indicators in which revenue increased steadily over the years and dividend payout ratio by 2025 will reach 15%… However, under the impact of the global COVID-19 pandemic, the revenue target may be considered and adjusted downward by the Company, while the profit will strive. achieve.
On behalf of the controlling shareholder at PVMACHINO, Mr. Nguyen Huu Quy – Member of the Board of Directors of PV Power congratulated PVMACHINO for the results achieved in the 2015-2020 term, highly appreciating the efforts of the Board of Directors. and the Company’s employees and hope that the Company will continue to promote and exceed the targets in 2020. Mr. Nguyen Huu Quy also asked the Board of Directors of the Company to give directions, strategies as well as other solutions. effective solutions to implement the plan for the period 2020-2025, promote restructuring, be active in debt recovery, seize and take advantage of opportunities to participate in the supply of materials and equipment, raw materials for projects, power plants of the Corporation…, bringing the highest benefits to shareholders, including PV Power.
At the meeting, the Presidium discussed with shareholders on many issues such as revenue structure, profit, cost management, restructuring, debt recovery progress and business plan. business, investment in the next period… Issues raised by shareholders will be answered by the Presidium directly at the General Meeting or will be answered in writing to the registered shareholder’s address.
The meeting elected 05 members of the Board of Directors for the term 2020-2025, of which 03 members were appointed by the major shareholder PV Power, the remaining 02 members were appointed by Baoviet Life Corporation and Saigon Securities Joint Stock Company. – Hanoi sent. The Supervisory Board for the new term consists of 03 members appointed by PV Power.
The meeting conducted voting with the number of 103 shareholders present in person and authorized persons, representing 36,442,593 shares, accounting for 94.32% of the total number of voting shares. All contents submitted to the General Meeting were approved with a high approval rate.
After a period of active, expeditious, democratic and law-abiding work, the 2020 Annual General Meeting of Shareholders of Petroleum Machinery and Equipment Joint Stock Company has completed the contents of the agenda. of the Congress and a great success. The meeting closed at 4:00 p.m. on the same day.