Management of Kido Foods announced BOD resolution with some notable information, including the roadmap to cancel the registration of KDF shares and a special dividend of 30% in cash.
The Board of Directors of KIDO Frozen Foods (Kido Foods – Ticker: KDF) has just approved the cancellation of the registration of all 56 million shares of KDF registered at the Vietnam Securities Depository to swap shares. votes with Kido Group Joint Stock Company.
According to the roadmap to merge Kido Foods into Kido Group (Ticker: KDC), KDF’s last trading date at the Hanoi Stock Exchange (HNX) is December 10. December 11 is the date of cancellation of transaction registration on HNX, and also the date when KDF shares are no longer valid for trading and transfer on the market.
After the merger, Kido Foods will be transformed from a joint stock company to a limited company with 100% charter capital owned by Kido Group.
At the same time, KDF’s Board of Directors also announced the closing date of the list to pay special dividends and swap KDC shares is December 14. The ex-right date is December 11.
According to the plan, KDC will issue 23 million additional shares to swap more than 17.76 million common shares of Kido Foods, swap ratio 1: 1.3 (1 KDF share for 1.3 shares KDC votes).
On the other hand, KDF will pay a special dividend of 30% in cash, equivalent to VND 3,000 / share. The special dividend payment for 2020 will be made at the same time as the swap of KDF shares to merge with KDC. Expected settlement date starts from December 29th.
According to the resolution of the Annual General Meeting of Shareholders 2020, in order to improve its position in the market as well as financial and managerial capacity, Kido wants to merge KDF into the group by issuing additional shares to swap 100%. KDF’s outstanding shares.
On the stock market, KDC and KDF both gained strongly since the sell-off at the end of April. At the end of today’s session (November 23), KDC stood still at VND35,800 / share, while KDF increased. 2.3% compared to the previous session, to 43,000 dong / share.
Source: vietnambiz.vn – Translated by fintel.vn
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