On the morning of April 23rd, Khang Dien Real Estate Corporation (HoSE: KDH) held its Annual General Meeting of Shareholders for 2024, with the following notable points:

2023 profit distribution plan:  It is projected to issue nearly 91 million shares to distribute stock dividends for 2023 at a rate of 10%. This rate is expected to remain unchanged in 2024. However, the value and number of shares for the 2023 dividend payment may be fluctuated depending on the timing of the company’s completion of the private placement of over 110 million shares.

Previously, at the end of February – early March 2024, KDH received approval for the plan to privately place over 110 million shares to 20 professional investors, thereby potentially raising 3 trillion VND. According to the plan, KDH intends to use 300 billion VND to repay loans at OCB bank, and the remaining 2,700 billion VND for investment in Khang Phuc.

ESOP payment plan:  Issuing 10.8 million ESOP shares to employees at a price of 17,000 VND/share, which is 49% lower than the opening price on April 23rd. The shares will be restricted from transfer for one year after issuance. With nearly 184 billion VND potentially raised if the issuance is successful, KDH will use the entire amount from the ESOP issuance to supplement its business development.

Business plan for 2024:  Revenue and after-tax profit attributable to shareholders are projected to be 3,900 billion VND (+87% YoY) and 790 billion VND (+10% YoY), respectively

Change in maanagement: Shareholders approved the dismissal of a member of the supervisory board, Ms. Luu Thi Xuan Lai, and appointment of the newly added board member, Ms. Le Thi Thuy Trang.