ELC: Right issue; Receiving Shares Issued for Raising Share Capital from Owner's Equity
Viet Nam Securities Depository and Clearing Corporation (VSDC) would like to announce the record date as follows:
- Right code: MIRELC251
- ISIN code: VNMIRELC2513
(Effective date of code allocation: 05/03/2025; effective date of code cancellation: 28/03/2025)
- Planned quantity of issued shares: 12,493,511 shares
- Issue price: VND 10,000/share
- Execution rate: 100:15 (shareholders are entitled to 1 right for each share that they own and to buy 15 new shares for 100 rights).
- Principle of rounding, handling fractional shares and unsubscribed shares:
+ Principle of rounding: The number of shares issued to existing shareholders will be rounded down to the whole number
+ Principle of handling fractional shares and unsubscribed shares: (remaining shares): The fractional shares and the number of shares that investors do not subscribe or pay for during the offering (remaining shares) will be distributed by the Board of Directors to other subjects (including other existing shareholders and other investors) at an offering price not lower than the offering price for existing shareholders but allowed to be lower than the book value of the shares and the market price of the shares at the time of offering. The conditions of the offering, rights and obligations of investors are not more favorable than the conditions of the offering to existing shareholders, and ownership transfer is restricted for 1 year from the date of offering closure. The Board of Directors will develop criteria and select other shareholders/investors who want to buy the remaining shares. In case the time limit for distributing shares as prescribed by applicable laws (including extension period, if any) expires and the shares have not been fully distributed, the undistributed shares will be cancelled and the Board of Directors will decide to end the offering. The handling of remaining shares must comply with the provisions of Article 42 of Decree No. 155/2020/ND-CP dated 31/12/2020 detailing the implementation of a number of articles of the Securities Law and other regulations.
Example: shareholder A who owns 155 shares is entitled to buy 155 x 15/100 = 23.25 shares. According to the above principle of handling fractional shares, shareholder A is entitled to buy 23 new shares. The 0.25 fractional shares (rounded to 5dp) will be offered to other investors with offering conditions no more favorable than those offered to existing shareholders (including an offering price no lower than the selling price to existing shareholders).
- Regulations on rights transfer:
+ Time period for right transfer: from 05/03/2025 to 21/03/2025.
+Transferable purchase rights: Shareholders are allowed to transfer the purchase right to other persons but can only transfer once within the prescribed period (the transferee of the purchase right cannot transfer that purchase right to a third person).
- Regulations on subscription:
+ Time period for subscription and payment: from 05/03/2025 to 25/03/2025.
+ Shares are freely transferable.
- Place for implementation:
+ The holders whose shares have been deposited have to make transfer of purchase right, subscription and payment at the depository members (DMs) where they opened depository accounts.
+ The holders whose shares have not been deposited will make transfer of purchase right, subscription and payment at Company Headquarters - ELCOM Building, Duy Tan Street, Cau Giay District, Hanoi City on working days. ID card/passport have to be presented and make subscription payment.
- Information on blockade account for subscription:
+ Account holder: Elcom Technology Communications Corporation
+ Account number: 0541102498004
+ Account opening place: Military Commercial Joint Stock Bank - Thang Long Branch
Schedule for DMs to process right issue with VSDC is detailed in the attached file.
2. Receiving Shares Issued for Raising Share Capital from Owner's Equity
- Number of securities expected to be issued: 4,164,503 shares
- Execution rate: 100:5 (Shareholders who own 100 shares are entitled to 5 new shares)
- Principle of rounding and handling fractional shares:
+ Principal of rounding: The number of shares additionally issued will be rounded down to the whole number. The fractional will be removed.
Example: On the record date, shareholder Nguyen Van A who owns 2598 shares will be entitled to receive 2,598*5/100=129.9 new shares. According to the rounding principle, shareholder will receive 129 new shares and the fraction of 0.9 shares will be removed.
+ Principal of handling fractional shares: the fractional shares will be removed.
- Payment place:
+ The holders whose shares have been deposited will receive shares at the depository member where they opened depository account.
+ The holders whose shares have not been deposited will receive shares at Company headquarters at ELCOM Building, Duy Tan Street, Dich Vong Hau Ward, Cau Giay District, Hanoi City. ID cards/certificate of share ownership have to be presented.
Depository members (DMs) are requested to compare the securities holders’ information in the List generated and sent in the form of Certificate of Authorization by VSDC with the information managed by DMs then send Confirmation (Form 03/THQ) in the form of Certificate of Authorization on the accuracy of the list of shareholders (For DMs who have not completed the connection to VSDC’s terminal-based gateway/ISO-based gateway or where the connection has been disrupted, the Confirmation with Certificate of Authorization shall be sent to thongbaoxacnhan@vsd.vn). In case of rejection due to data errors, DMs are requested to send written notice on details of errors for necessary correction.
Deadline for sending confirmation: by 10.30 am, 26/02/2025.
If DMs do not send confirmation document by the above deadline, VSDC will consider the list provided to DMs by VSDC tobe accurate and confirmed. In case of arising disputes and losses to shareholders, DMs will have to bear all the related responsibilities.
DMs are requested to fully inform this notice to each investor who has deposited the above shares at DMs within 03 working days from the date on the notice.
SCHEDULE FOR EXECUTION OF RIGHT ISSUE OF ELC SHARES
- Security name: share of Elcom Technology Communications Corporation
- Record date: 24/02/2025
- Deadline for depository members’ submission of Confirmation of securities owners entitled to right issue: by 10.30am on 26/02/2025.
- Time period for right transfer: from 05/03/2025 to 21/03/2025.
- Time period for subscription: from 05/03/2025 to 25/03/2025.
- Deadline for members' submission of subscription list and making relevant payment to VSDC: 27/03/2025.
- Account for cash transferring:
+ Account number: 1220173177
+ Account name: Viet Nam Securities Depository and Clearing Corporation
+ At the bank: BIDV – Ha Thanh Branch.
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43,330|6,106
-
6
-
3,271
-
803
-
37
-
9,528,697