The Hanoi Stock Exchange-listed Cotana Group Joint Stock Company (CSC: MCK, HNX) has just announced a resolution to implement the plan to issue bonus shares for 2024, which was approved at the 2025 Annual General Meeting of Shareholders.
Accordingly, Cotana Group plans to issue 3.74 million bonus shares, equivalent to a 10% dividend payout ratio, meaning that for every 10 shares held, shareholders will receive 1 new share. The issued shares will not be restricted from transfer.
The source of capital for this issuance will come from undistributed post-tax profits in the 2024 audited financial statements. The issuance is expected to take place within 2025.
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As of the end of 2024, Chairman Dao Ngoc Thanh owned more than 11 million CSC shares, holding a 29.4% stake in the company. Mr. Thanh is estimated to receive over 1.1 million bonus shares.
Mr. Dao Ngoc Thanh is known for his previous role as Chairman of the Board of Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex, HoSE: VCG), from which he resigned in July 2024.
Mr. Thanh’s daughter, Dao Thu Thuy, a member of the Board of Directors of CSC, holds 1.95 million shares, or 5.2% of the charter capital. Ms. Thuy is expected to receive 195,354 new shares.
Huynh Thi Mai Dung, who owns 3.84 million CSC shares, or 10.26% of the charter capital, may receive 384,080 new shares. Notably, Ms. Dung is the wife of Nguyen Do Lang, the founder of Apec Group.
Nguyen Do Hoang Lan, the daughter of Mr. Lang and Ms. Dung, was a member of the Board of Directors of CSC from 2024 and was relieved of her duties at the 2025 Annual General Meeting of Shareholders.
In the first quarter of 2025, Cotana Group recorded revenue of over VND 100 billion, up 42% year-on-year, and a net profit of over VND 10 billion, four times higher than the same period last year.
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