VINACHEM

The Meeting elected seven members get into Board of Director, five members get into Board of Supervision. Mr. Le Quoc Phong was elected Chairman of The Board of Director for a term of five years (2011-2015). So with this confidence, Mr. Le Quoc Phong assumed duties as Chairman and President and CEO ofBinh Dien Fertilizer company(BFC)

In themorning,Dec 20, 2010, at theWhitePalaceConvention Center,Ho Chi Minh City, the Binh Dien Fertilizer Company held aShareholder’s meeting established the company operating under the new model - the company stockAt the meeting, Mr. Le Quoc Phong head direction equitization and CEO of the company reported summary implement equitization process of company. Accordingly, the implementation of Decision No. 329/QD-HCVN of Vietnam National Chemical Group and base on valuation of enterprises,Binh Dien Fertilizer Company cooperation with Ban Viet Securities Joint Stock Company and Ho Chi Minh Stock Exchange implement procedures aution shares. On Nov 9, 2010, Ho Chi Minh Stock Exchange held a successful auction of shares of the company with the participation of 505 investors. Results, there was 200 investors successful bidders investors (there was 7 organizations and 193 individuals) with 7,371,000 shares sold, 100% of the shares offered for sale. The highest successful bid was 20,000 VNĐ per share, the lowest was 13,800 VNĐ per share, the average successful bid was 14,543 VNĐ per share. At present, the shareholders of the Binh Dien is 501shareholders with the structure of capital is held by the State 25.805.000 shares, make up 65%.The remaining sharesbyofficersand employees, trade unions of Binh Dien, the strategic shareholder and other shareholders mass …The meeting was elected 7 members get intoBoard of Directors and 5 members get into Board of Supervision. Mr. Le Quoc Phong was elected Chairman of the Board of Director for a term of five years (2011-2015).So with this confidence, Mr. Le Quoc Phong in charge Chairman and President and CEO ofBinh Dien Fertilizer company(BFC).

According to industry experts, Binh Dien moved to operate under the new model, Stock company model consideredchanging stepsof the brandof Head Buffalo fertilizer. With the new model, the company will have many advantages, self-control and better performance. In fact, after more than 35 years of establishment and development, today, Binh Dien company with the brand "Head Buffalo Fertilizer" became one of the leading enterprise manufacturing fertilizers of whole country onproductivity, take part in stabilizing the domestic fertilizer market. From only few products on the establishment, Binh Dien now has hundreds of product categories fertilizer for crops with different soil regions. Output from several thousand tons per year amounted to 400-500 thousand tons with revenues of approximately 4,000 billion VNĐ, was ranked 147 out of 500 largest enterprises of Vietnam. Particularly in the 3 years latest (2008-2010) consumption of NPK fertilizer, revenue and profitability of Binh Dien continuous strong growth. Accordingly consumption in 2008 reached 296,220 tons, turnover reached 3,012 billion VNĐ, profits reached 42 billion VNĐ. Consumption in 2009 reached 334,820 tons, turnover of 3,025 billion VNĐ, profits reached 48 billion and in 2010 consumption is estimated at 420,000 tons, turnover is estimated at 3,750 billion VNĐ, profits estimated reached 68 billion VNĐ ...

Talking with us on the sidelines of the meeting, Chairman and CEO, Le Quoc Phong said, along with the rapid increase in output, distribution network of Binh Dien also constantly expanding to bring products to farmers throughout the country quickly, to meet demand of agricultural production. According to Le Quoc Phong, along with production and business activities, Binh Dien always focusing on improving the quality improvement of fertilizer products available, and research to market new fertilizer products, to meet demand of farmers. "We are pursuing a desire that will apply the latest advances in the world on their products. We recently succeeded in getting Agrotain intoNitrogenous fertilizer to reduce the amount ofphosphate. As we know now, phosphate absorption from 20 to 25% the remainder was fixed in the soil by metal ions. Such substances we put into it will coverseedphosphateDAP to make it fixedphosphate and according to the first step of the experiment we can reduce the amount of fertilizer 5%. After this success we will publish a series of products NPK fertilizer that fertilizer reduced by half, bringing many benefits to farmers and the environment" - Mr. Le Quoc Phong said.