PVM holds an extraordinary shareholder meeting at the end of December 2022

Company information
icon date22/07/2023

Why did PVMachino hold an extraordinary shareholder meeting at the end of December 2022. This is a big question asked by many investors, let’s find out.

PVM holds an extraordinary shareholder meeting at the end of December 2022

Contents of the congress

On behalf of the Presidium, Mr. Vu Duc Tien – Chairman approved the agenda and contents of the Extraordinary General Meeting of Shareholders in 2022 including a number of issues:

Firstly, discuss working regulations at the Annual General Meeting of Shareholders in 2022;

Secondly, present the investment policy statement, participate in project bidding and buy debt at a number of credit institutions.

Thirdly, the report on transfer of investment capital in some units with contributed capital and other financial investments.

Fourthly, the report on dismissal and additional election of independent members of the Board of Directors.

Fifthly, elect independent members of the Board of Directors, announce the election results.

Sixthly, passed the Minutes and Resolutions of the General Meeting

If the Shareholders agree to approve the Agenda and contents of the Meeting with a rate of 100%, the Shareholders present will approve with a Voting Card.

Discussion of the contents at the General Assembly

Mr. Vu Duc Tien – Chairman invited Shareholders to comment on the Proposals at the General Meeting. In which, there are some key opinions of shareholders as follows:

– Shareholder code 0691: Could you please provide some more information about buying debt at some credit institutions?

– Shareholder code 0157:

+ The company is having some inefficient financial investments. What is the company’s orientation on these investments and what is the plan to handle them?

+ The company is implementing a number of new fields of activity, including investment in waste treatment. What is the current situation of implementing the above field?

+ Planning to list shares on the stock exchange?

– Shareholder code 0973: The Company’s plan to divest capital in some units with capital contribution such as Da Nang Petroleum Equipment and Machinery Joint Stock Company, joint ventures with foreign partners…?

– Shareholder code 0207: Would you like the company to explain more about the content of authorization of the General Meeting of Shareholders to the Board of Directors for the investment and transfer of capital?

Future direction

The current economic situation and forecast in 2023, businesses will continue to face many difficulties. At this time, some units have debts at credit institutions, which are mainly debts for investment in projects.

For projects that are researched and evaluated for feasibility, good efficiency and clear legality, this is the time when the Company has the opportunity to negotiate with partners to buy back these project investments. with good prices.

Currently, PVMachino is a large-scale public company. All issues under the authority of the General Meeting of Shareholders, if authorized by the Board of Directors, must ensure safety, efficiency and capital preservation. Procedures must be carried out in accordance with the provisions of law, supported by a legal consulting unit and supervised by the Supervisory Board.

For investment cooperation opportunities

For investment cooperation opportunities to be evaluated effectively, requiring quick implementation time, it is necessary to authorize the General Meeting of Shareholders if the Board of Directors is responsible for implementation to ensure progress. level, avoid missing opportunities that bring good results.

In addition, for some projects the company is researching and monitoring, it is not possible to immediately disclose information, only when the bidding company wins the project or has been legally transferred to the company. ty,

Orientation in divestment

For the divestment of capital contribution units: The Company will evaluate the development potential of the units and the effectiveness of these capital contribution investments.

If the business unit has not achieved the expected efficiency, the profit margin will not grow but decline year by year. The company will plan to divest in these units to recover capital for export and business activities and invest in projects with higher efficiency.

Orientation towards financial investment and waste

Regarding the investment in the field of waste treatment, the Company has invested in capital contribution to form a unit to deploy a chain of non-burying waste treatment plants, including a waste treatment plant in Quynh Phu district, Thai Binh has come into operation.

Many waste treatment plants in Luc Ngan district, Bac Giang are in trial operation, and are continuing to research and deploy in some other provinces.

The plan to list shares on the stock exchange: Currently, the Company is still having problems in some implementation procedures due to insufficient conditions. After completing the above procedures, the Company will carry out the listing of shares as soon as possible.

Through the extraordinary meeting of PVMachino, the company’s strategic orientations have been shown in many fields in the coming time.