The Ho Chi Minh City Stock Exchange has just announced that it will carry out mandatory delisting procedures for ITA shares of Tan Tao Investment and Industry Joint Stock Company (Tan Tao Company; HoSE: ITA).

Tan Tao Company's shares are currently under 3 monitoring categories for violations. Specifically, ITA shares are under warning because the listed company has violated information disclosure 4 times or more within 1 year.

Second, ITA shares are under control because Tan Tao Company is 30 days late in submitting its audited semi-annual financial statements for 2024, compared to the prescribed deadline.

Third, ITA shares are suspended from trading from September 26, 2024 because the company continues to violate information disclosure regulations after being placed on trading restriction.

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Ms. Dang Thi Hoang Yen - Chairwoman of Tan Tao Company. Photo: Hoang Ha

Up to now, Tan Tao Company has not yet announced information such as: Audited financial statements and annual report 2023; Reviewed semi-annual financial statements 2024; decision to open bankruptcy proceedings of Ho Chi Minh City People's Court.

Regarding the financial statements, Tan Tao Company has sent a document requesting to postpone the disclosure of information due to force majeure. However, the State Securities Commission has sent two response documents, stating that the company has not provided documents or evidence as a basis for citing force majeure.

According to the Ho Chi Minh City Stock Exchange, in September 2024, this unit sent a document requesting Tan Tao Company to promptly correct information disclosure violations. Otherwise, ITA shares will be subject to mandatory delisting.

Since the suspension of stock trading, the company's violations of information disclosure have not been remedied and are likely to continue, affecting shareholders' rights.

Tan Tao Company was established in 2002, operating mainly in the field of industrial park development and industrial services. In addition, the company also invests and trades in residential real estate. The company's ITA shares were listed in 2006.

The charter capital of Tan Tao Company is nearly 9,400 billion VND. The chairwoman of the Board of Directors of this enterprise is Ms. Dang Thi Hoang Yen, also known as Maya Dangelas.

Ms. Dang Thi Hoang Yen's Tan Tao Company owes nearly 127 billion VND in taxes.

Ms. Dang Thi Hoang Yen's Tan Tao Company owes nearly 127 billion VND in taxes.

In addition to being at the top of the list of tax debtors in Binh Tan district, Tan Tao Company's shares are also under scrutiny because of the delay in publishing financial reports.
Ms. Dang Thi Hoang Yen's company did not buy Tan Tao shares before the stop buying and selling order.

Ms. Dang Thi Hoang Yen's company did not buy Tan Tao shares before the stop buying and selling order.

Although registering to buy nearly 6 million ITA shares of Tan Tao Company, the company related to Ms. Dang Thi Hoang Yen did not buy any units. From tomorrow, ITA shares will be suspended from trading.
30 auditing units 'shake their heads' in refusal, Tan Tao shares are suspended from trading

30 auditing units 'shake their heads' in refusal, Tan Tao shares are suspended from trading

ITA shares of Tan Tao Company have just been changed from restricted to suspended trading status due to the delay in disclosing financial information. The company explained that it has not found an auditing unit.