PTSC successfully held the Annual General Meeting of Shareholders in 2021

On the morning of April 28, 2021, in Vung Tau City, PetroVietnam Technical Services Corporation (PTSC, MCK: PVS) successfully held the Annual General Meeting of Shareholders in 2021.

Attending the meeting, on the side of mother company - Vietnam Oil and Gas Group (Petrovietnam) were Mr. Nguyen Hung Dung - Member of the Board of Directors of the Group; together with leaders of the Group's specialized departments. On PTSC's side, there were members of the Board of Directors (BOD), Board of Directors, Board of Supervisors (BOS), and representatives of PwC (Vietnam) Co., Ltd. - the unit that audited PTSC's 2020 financial statements and the presence of shareholders representing the number of shares with voting rights.

At the General Meeting, all delegates and shareholders attending were instructed by PTSC Corporation to fully implement measures to prevent the Covid-19 epidemic such as medical declaration, disinfection, wearing masks, keeping a safe distance. All in communication, temperature measurement.

The Presidium runs the General Meeting.

During the meeting, the Board of Directors, Control and Executive of PTSC presented: Report on activities of the Board of Directors; Report on production and business situation in 2020 and business plan in 2021; Report on activities in 2020 of the Supervisory Board and propose to select an audit unit in 2021; Financial statements in 2020 and Profit distribution plan in 2020, profit distribution plan in 2021; Report on the approval of the Corporation's charter and operating regulations; Report on remuneration and operating expenses of members of the Board of Directors and members of the Supervisory Board; Report on personnel of the Board of Directors, Board of Supervisors.

Mr. Phan Thanh Tung – Chairman of the Board of Directors of PTSC presented the report of the Board of Directors.

In the difficult context of 2020 due to the double impact of the Covid-19 epidemic and the drop in oil prices, PTSC's service activities were delayed, service demand decreased and the project had to be delayed as request of the customer. However, PTSC has implemented many solutions to maintain and successfully implement business targets in 2020, according to which, consolidated revenue in 2020 is VND 21,313 billion, reaching 142.1% of the year plan, an increase of 21.6% compared to 2019. Realized consolidated profit before tax in 2020 is VND 1,025 billion, reaching 128.1% of the year plan.

PTSC General Director Le Manh Cuong reported business results in 2020, plan for 2021.

With the reported business results, the General Meeting of Shareholders approved a 10% cash dividend for 2020.

On the basis of the above information, PTSC sets the targets for the production and business plan in 2021: Consolidated revenue of VND 10,000 billion; Profit before tax is 700 billion; Maximize resources to promote and develop production and business activities; Strictly manage the investment according to the approved plan, focus on investment in core areas; Optimizing resources, building service solutions along the value chain based on the advantages of scale and multi-services of PTSC; Maintain training to improve the quality of human resources to promptly meet the requirements of developing high-tech oil and gas services in accordance with PTSC's strategic development goals; Develop measures to ensure network confidentiality and security; Deploying digitization of corporate governance; Perform other tasks assigned by the Vietnam Oil and Gas Group…

Mr. Nguyen Xuan Cuong - Deputy General Director of PTSC presented the financial report at the General Meeting.

At the General meeting, PTSC's Board of Directors answered all questions from shareholders and investors about issues related to ongoing PTSC projects, and at the same time, the General Meeting of Shareholders approved the following contents presented at the General Assembly with a high consensus rate.

Member of the Board of Directors of Petrovietnam Nguyen Hung Dung speaks at the Congress.

Speaking at the meeting, Mr. Nguyen Hung Dung - Member of the Board of Directors of Petrovietnam affirmed that PTSC is the pride of Petrovietnam, the Group's success has a very important contribution from PTSC; In 2020, despite the double impact of the Covid epidemic and the deep drop in oil prices, PTSC's results in 2020 are extremely good, the Group's leaders always believe in PTSC and are proud of PTSC.

The General Meeting also voted to elect members of the Board of Directors and controllers, accordingly, Mr. Do Quoc Hoan continued to be trusted by the General Meeting to be members of the Board of Directors of PTSC Corporation, Ms. Bui Thu Ha and Mr. Pham Van Tien were elected as a Supervisor of PTSC.

Leaders of Petrovietnam and Leaders of PTSC congratulated Mr. Do Quoc Hoan and Ms. Bui Thu Ha.

Speaking at the closing of the meeting, on behalf of PTSC employees, Mr. Phan Thanh Tung - Chairman of the Board of Directors thanked the attention of the Group's leaders, the consensus and support of the shareholders who have always supported and accompanied the company. PTSC, at the same time congratulated the elected personnel at the Congress.

With the results in 2020 and the success of the shareholders' meeting in 2021, Chairman of the Board of Directors Phan Thanh Tung believes that PTSC will continue to successfully complete the tasks in 2021