Vietourist wants to cancel the issuance of 12 million shares and buy Iris Can Tho hotel. Illustrated photo.
Vietourist Holdings Joint Stock Company (MCK: VTD) has just announced the extraordinary General Shareholders’ Meeting documents on February 18 to discuss many important issues.
Specifically, Vietourist Holdings wants to gather shareholders’ opinions to cancel the plan of offering additional shares to existing shareholders in 2023.
In detail, in 2023, VTD plans to offer 12 million shares at a price of VND 10,000 per share to double its capital. The capital raised from the issuance will be used to repurchase all contributed capital of Mr. Doan Xuan Tien at Doan Gia QB Investment Company Limited.
However, after working with management agencies and re-evaluating the capital utilization plan and the company’s business plan, the Board of Directors of VTD wants to cancel this plan. In case of necessary capital needs, the company will continue to implement the capital increase plan.
At the same time, VTD also decided to cancel the plan to repurchase the capital contribution of Mr. Doan Xuan Tien at Doan Gia QB Investment Company Limited.
In addition, the Board of Directors also submitted a plan to repurchase Iris Can Tho hotel to the General Shareholders’ Meeting. This hotel has an area of 723 square meters at 224 30 thang 4 Street, Ninh Kieu District, Can Tho City. The total valuation of this hotel is VND 274 billion, but the amount VTD will buy back is VND 254 billion. Investment capital is from credit organization loans and other organizations, individuals in 2024. The purpose of buying this hotel is to invest in assets to serve the tourism ecosystem.
Regarding the investment plan to purchase 5 boutique hotels in the Regal Legend Quang Binh International Tourism Urban Area project (Bao Ninh 1 Urban Area), in 2023, VTD plans to spend VND 60.89 billion from the issued shares for existing shareholders in 2022 and 2023 to make the purchase.
The execution time is scheduled for quarter III and IV/2023. The purpose of the purchase is to serve the tourism ecosystem. By the end of 2023, VTD had deposited VND 10.84 billion. This is a project invested by Central Vietnam Land Joint Stock Company with a total usable area of 2,400 square meters.
