Taseco Land plans to increase its ownership ratio of ICON4's charter capital to 35%

15/10/2020

The issuance of individual shares will contribute to restructuring the financial foundation to promote ICON4's production and business activities, focusing on real estate investment and business activities.

Fundamental change

The extraordinary general meeting of shareholders of Investment and Construction Joint Stock Company No. 4 (ICON4) took place on the morning of October 15, 2020, officially voting with a rate of 100% to approve the content for Taseco Real Estate Investment Joint Stock Company - Taseco Land (a subsidiary of Taseco) to increase the ownership ratio of ICON4's charter capital to 35% without the need for a public offering procedure.

It is known that the participation of shareholders Taseco Group and Taseco Land in recent years has gradually removed difficulties for ICON4 with specific activities: restructuring the personnel apparatus in a professional and effective direction fulfilling the obligations financial affairs with the state resolving salary and social insurance regimes for employees in the company building a safe and transparent financial foundation, ensuring the continuous operation of ICON4, creating more construction work for the company in projects invested by Taseco.

Also at this congress, the ICON4 General Meeting of Shareholders also approved the plan to issue private shares to 5 investors to increase charter capital from 160 billion VND to 320 billion VND.