DIC GROUP ORGANIZED 80TH GENERAL MEETING, TERM III (2018 - 2020)

On February 14th 2020, DIC Group (HoSE: DIG) held the 80th General Meeting - Term III (2018-2020). Mr. Nguyen Thien Tuan - Chairman of DIC Group chaired the meeting with the participation of the Board members; BODs and related functional boards.

Speaking at the opening of the meeting, Mr. Nguyen Thien Tuan emphasized: "This is a decisive meeting to the "Successful breakthrough" of DIC Group in 2020 - the 30th anniversary of the founding of the DIC Group (1990 - 2020)”. Many important issues related to the production and business strategy in 2020 and the next 5-year orientation were adopted at this meeting.

The BODs has approved the plan for organizing the Annual General Meeting of Shareholders in 2020. It is expected that the time for organizing the General Meeting of Shareholders will be from April 10th 2020 to April 24th 2020. The closing date for the list of shareholders attending the meeting is from March 10th 2020 to March 16th 2020.

Based on the consolidated profit before tax in 2019 of VND 553.23 billion, the Board of Directors will submit to the General Meeting of Shareholders for approval a 15%-dividend plan (including cash and shares).

At the meeting, the BODs reviewed the business plan of 2020. According to the report of Mr. Hoang Van Tang - General Director of DIC Group, the targets for the 2020 business plan of the parent company (DIC Corp) and the Consolidation are as follows:

In terms of revenue, the parent company reached VND 3,200 billion, an increase of 84.7% compared to 2019; Consolidated revenue reached VND 3,500 billion, up 67% compared to 2019.

In terms of profit before tax, the parent company reached VND 800 billion, up 32.7% compared to 2019; Consolidated profit reached VND 850 billion, up 53.6% compared to 2019.

Regarding the total investment capital to develop the parent company: VND 5,148.75 billion, an increase of 115.8% compared to 2019.

At the meeting, Chairman Nguyen Thien Tuan identified 2020 as a pivotal year, marking a new period of DIC Corp from a corporation into a large real estate group of Vietnam. In line with the theme of "Successful breakthrough" towards the 30th anniversary of DIC Group's establishment, at the meeting, the BODs’ Chairman presented the development orientation of DIC Group as follows: Building a strong financial source; Speeding up the investment in large projects; Dividend payment of 15-20% in the next 3-5 years; Maintain the growth rate of DIG shares on the stock exchange to ensure safety for major shareholders for the next 5 years; Concentrate on investing in key projects that meet legal requirements.

From the above directions, the Chairman of the Board of Directors has consulted the members of the Board of Directors; The Management Board on the most feasible investment plan, ensuring the growth rate of DIC Group in the next 3-5 years. Accordingly, the BODs has agreed on the plan to make the maximum exploitation of the land fund eligible for exploitation in 2020 (investment cooperation, transfer of 2-level projects ...) to create a strong financial source, as a premise to implement many national key projects in localities such as Vinh Phuc, Bac Ninh, Ha Nam, Peace, Quang Binh, Dong Nai, BA Ria Vung Tau, Hau Giang, Kien Giang - Phu Quoc etc.

According to Mr. Nguyen Thien Tuan, in addition to the expected revenue of more than VND 5,000 billion from the business of real estate projects, DIC Group decided to spend about 100 hectares of land (at 1 project in the North and 1 project in the South of Vietnam) of the total DIC Corp’s land fund to cooperate and transfer to 2-level investor with strong financial capacity and rich investment experience in order to accelerate the speed project implementation. The cooperation also quickly brought DIC Corp an expected revenue of over VND 6,000 billion to supplement the capital of DIC Group. “In the first 6 months of 2020, DIC Group expects revenue of approximately VND 15,000 billion. In particular, DIC's capital is about VND 11,000 billion and capital from other sources is VND 4,000 billion. With the above-mentioned capital, DIC Group will "transform itself" and "breakthrough successfully" said Mr. Tuan.