Issue of bonds
Issue of bonds
1. A shareholding company may issue bonds, convertible bonds and other classes of bonds in accordance with the law and the charter of the company.
2. The company may not issue bonds in the following cases except where otherwise stipulated by the laws on securities:
(a) Payment has not been made in full for the principal and interest of issued bonds, payment has not been made or not been made in full for due debts in three previous consecutive years;
(b) The average after tax profit rate of three previous consecutive years is not higher than the interest rate intended to pay for the bonds to be issued.
The issue of bonds to creditors being selected financial institutions is not restricted by the provisions in sub-clauses (a) and (b) of this clause.
3. Where it is not otherwise stipulated in the charter of the company, the Board of Management has the right to make decisions on the class of bonds, total value of bonds and timing of issue, but must report to the General Meeting of Shareholders at its nearest meeting. The report must be accompanied by documents and files to explain the decision of the Board of Management on issue of bonds.
- Contact directly at the following address:
Daiviet Law Firm
Daiviet Notary Office
No. 335 Kim Ma Street - Ba Dinh District - Hanoi- Vietnam
Tel: (84-4) 37478888/ Hot-line: 0933 668 166
Fax: (84-4) 37473966
