Gelex Electric Joint Stock Company (Stock Code: GEE) has announced the decision to establish a new subsidiary called Gelex Technology LLC. The subsidiary will have a charter capital of 50.84 billion VND, with Gelex Electric contributing 25.93 billion VND, representing 51% ownership. This move increases Gelex Electric’s total number of direct subsidiaries to nine.
Additionally, Gelex Electric plans to issue 61 million new shares to existing shareholders at a ratio of 5:1 to increase its charter capital to 3.66 trillion VND. The issued shares will not be subject to transfer restrictions. This issuance is expected to be successful, raising the total outstanding shares to 366 million.
The company also plans to pay a 20% dividend for 2024 to shareholders, estimating a payout of about 610 billion VND for the nearly 305 million shares. Gelex Group, holding 78.69% of GEE shares, is expected to receive over 480 billion VND from this dividend distribution. Furthermore, Mr. Nguyen Van Tuan has announced his resignation from the Board of Directors.
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