Seapriexco No4 to increase its investment in pangasius farming

The Administration Council of the Seafood Joint Stock Company N04 (Seapriexco No.4) will submit the 2011 Annual General Meeting of shareholders its new plan to issue shares with an aim to boost the company's charter capital from VND115 billion to VND234.5 billion, reports www.megafishnet.com with reference to VASEP.

Seapriexco N04 expects to issue 11.95 million of shares, of which 11.39 million of shares will be offered to current shareholders with a dividend yield of 1:1 and 559,052 shares offered to the company's employees.

The new plan is predicted to be in line in Q.3/2011. The earnings from shares will be used to invest in pangasius farms in order to ensure about 75 percent of raw materials for its processing plant in Dong Thap province and to finalize the first phase of Toan Thang processing plant construction project in Long Hau industrial park, this year.

In 2011, Seapriexco N04 tries to reach VND650 billion in turnover, up 46.7 percent against 2010; 12,000 MT of production volume, up 9 percent; 11,000 MT of export volume, up 26.8 percent; US$24 million of export value and VND45 billion net profit.

SEAPRIEXCO N04

Mr. Nguyen Van Luc - General Director

Add: 320 Hung Phu, Ward 9, District 8, Ho Chi Minh City

Tel: +84 8 39543361/39543369

Fax: +84 8 39543362/39543367

E-mail: seafoodno4@vnn.vn

Website: www.seafoodno4.com