News · CafeF

Voting on a 'hard-to-earn reward', Chairman Nguyễn Đức Tài says bluntly: "If shareholders think these men are taking too much, they will vote no"

Shareholders of Điện Máy Xanh (DMX, HoSE) approved issuing up to 100 billion VND in bonds with warrants for 15 senior managers, with a 5-year term and an 8% fixed annual coupon. Each 100-million-VND bond carries 100 warrants, each allowing the purchase of 1,267 DMX shares at 74,000 VND per share, for up to about 126.7 million new shares (around 10% of shares outstanding), and the warrants are activated only when profit targets are met and DMX outperforms the VN30 index. Before the vote, a shareholder asked about the list of managers, and Chairman Nguyễn Đức Tài said parent company MWG would not vote and wanted independent shareholder views, adding that a fixed list is a drawback compared with an ESOP. CEO Đoàn Văn Hiểu Em said the program covers only 15 people, with targets of doubling revenue and tripling profit, and that issuance is capped at 3% per year and 10% over five years.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Biểu quyết một 'phần thưởng khó nhằn', ông Nguyễn Đức Tài nói thẳng: "Nếu cổ đông thấy mấy ông này ăn dày quá thì sẽ biểu quyết là không"

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