Taseco Airs holds 2018 Annual General Meeting of Shareholders

On the morning of April 26, 2018, at JW Marriott Hotel, Hanoi, Taseco Air Services Joint Stock Company (TASECO AIRS) successfully held the 2018 Annual General Meeting of Shareholders (AGM) with the participation of 105 shareholders and authorized representatives, owning 30,777,230 shares, accounting for 85.49% of the total number of voting shares of the Company.

Member of the Executive Board of the Congress

The 2018 TASECO AIRS Annual General Meeting of Shareholders discussed and voted to approve the following contents: Report on the Board of Directors' activities in 2017 and the direction for 2018; Report of the Board of Directors on the business results in 2017, the business plan for 2018; Report on the activities of the Board of Supervisors in 2017; Proposal to approve the audited Financial Statements of 2015 and 2016 and the audited Financial Statements of 2017; Proposal on Profit Distribution in 2017, Profit Distribution Plan for 2018; Proposal on Remuneration Payment of the Board of Directors and Board of Supervisors in 2017, Remuneration Plan for 2018; Proposal on selecting the Auditing Company for the Financial Statements in 2018; Proposal on changing the Subject of the Investment Cooperation Contract for the À La Carte Ha Long project; Proposal on the Charter Capital Increase Plan and Capital Use Plan.

The General Meeting of Shareholders voted and unanimously approved the Program, Working Regulations and other contents.

TASECO AIRS's 2017 business results showed impressive figures compared to the 2016 business results and the approved and adjusted production and business plan for 2017, specifically: TASECO AIRS's total consolidated revenue in 2017 reached 659.03 billion VND, an increase of nearly 280% compared to 2016 and 102.17% compared to the adjusted plan for 2017; Profit after tax reached 148.14 billion VND, an increase of nearly 340% compared to 2016 and 100.79% compared to the adjusted plan for 2017.

The General Meeting of Shareholders approved the 2018 plan targets assigned to the Board of Directors and the Executive Board to strive to achieve, including total consolidated revenue of VND 907.2 billion; consolidated profit after tax of VND 160,571 billion and dividend rate of 20 - 40%.

The congress also successfully approved the Proposal for Issuing Shares to Increase the Company's Charter Capital. Accordingly, TASECO AIRS will offer 6 million shares to investors who commit to long-term cooperation with the company, with an offering price of no less than VND 70,000/share.

TASECO AIRS respectfully sends to shareholders the Resolution of the 2018 Annual General Meeting of Shareholders,  detailed text here:

Below are some pictures of the Congress:

Shareholders attending the meeting

Representative of PENM Fund (2nd from left) - Foreign investment fund holding 10% of the Company's shares

Mr. Pham Ngoc Thanh - Chairman of the Board of Directors of the company spoke at the Congress

Mr. Nguyen Minh Hai - Vice Chairman of the Board of Directors reported at the Congress

The meeting voted to approve the contents submitted to the General Meeting of Shareholders with the absolute approval rate of shareholders attending the meeting.