On 30/10/2017, Khanh Hoa Mineral Water Joint Stock Company – F.I.T Beverage has held an extraordinary General Meeting of Shareholders in the head office of the parent company, FIT Group at Times Tower Building – 35 Le Van Luong Street, Thanh Xuan District, Hanoi.

At the meeting, the Board of Directors and the shareholders agreed to adopt the Corporate Governance Regulation promulgated in accordance with Decree No. 71/2017/ND-CP dated 06/06/2017, amending the Charter of the Company; to approve the report of the Board of Directors on changing the purpose of using the proceeds from the issuance of shares in 2016; to approve the transfer of shares from UPCOM to the listed market (Hanoi Stock Exchange or Ho Chi Minh Stock Exchange); to approve the statement on the dismissal/replacement of members of the Board of Directors and the Board of Supervisors; and other issues under the authority of the General Meeting of Shareholders.

The highlight at Vikoda’s extraordinary shareholders’ meeting in 2017 is the adoption of the Corporate Governance Regulation issued under Decree 71/2017/ND-CP. Recognizing the importance of governance for the survival and development of the company, especially now that Vikoda begins to make strong moves, the Board of Directors has developed and proposed a corporate governance regulation that is implemented in accordance with the Decree 71, which is considered to have reached the best governance practices.

The promulgation of the regulation will help Vikoda promote better corporate governance. Moreover, the better the corporate governance is, the better the benefit of the investors of the company is. This regulation also details shareholders and the General Meeting of Shareholders, the Board of Directors and members of the Board of Directors, Board of Supervisors, prevention of conflicts of interest, information disclosure, supervision and handling of violations.

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In order to improve the quality of corporate governance, to ensure the ability to perform duties and confidentiality, Vikoda’s governance regulation provides that a member of the board of directors of a public company may not concurrently be a member of the board of directors of more than five other companies. This is also in line with international practices on corporate governance, ensuring the effectiveness of the board members. Finally, regulation on dealing with related people is also detailed to limit the transactions of the company with related persons, causing harm to the shareholders and the company, while still ensuring the suitability of the enterprises of certain trades.

In addition, the General Meeting of Shareholders approved the plan to transfer shares from UPCOM market to the listed market (Hanoi Stock Exchange or Ho Chi Minh Stock Exchange) to improve transparency in corporate governance, disclosure, and liquidity, thereby positioning and enhancing the image of the business in the market. The General Meeting of Shareholders authorizes the Board of Directors to select and implement based on the requirements of the departments.

With the goal to build and develop a strong Vietnamese brand that is competitive with major international brands, completing the corporate governance regulation on a solid basis will help Vikoda – FIT Baverage gradually conquer the goals of its expectations, through the achievements of the brand development, the increase in the coverage of products on the market, the improvement of customer preferences for products, etc. and take that as the growth momentum to continue to expand markets, conquer new and potential markets.

With the investment and strategic orientation from its parent company, F.I.T Group, Vikoda – FIT Beverage is gradually improving to achieve many competitive advantages, on the way to become the top five drinking water enterprises in Vietnam, realizing the goal of raising the Vietnamese brand, protecting the health and increasing the value of benefits for Vietnamese consumers.