Tan Tao shares were put under control from June 22.
Báo Thanh niên•15/06/2023
The reason for putting Tan Tao's shares under control was announced by HOSE because the after-tax profit of the parent company's shareholders in 2021 and 2022 was a negative number based on the 2022 audited consolidated financial statements. This is a case where the securities are put under control. In addition, ITA shares are also under warning because the 2022 audited financial statements have an exception opinion.
Tan Tao's shares have been under control since June 22.
In addition, ITA shares have been under warning since August 2022 because the company violated information disclosure 4 times or more within 1 year (calculated by calendar year). At that time, the company was reminded many times about information disclosure and explanation related to nearly 2,000 billion VND entrusted to Ms. Dang Thi Hoang Yen - Chairwoman of the Board of Directors - in the consolidated financial report for the second quarter of 2022 published by the company. However, subsequent documents, especially the 2022 Semi-annual Financial Report, gave completely different figures... Therefore, HOSE has requested Tan Tao to explain 4 times related to the story of advance payment and investment entrustment to Ms. Dang Thi Hoang Yen since the announcement of the 2022 Q2 Financial Report up to now. Notably, Tan Tao also suddenly announced that Ms. Dang Thi Hoang Yen - Chairwoman of the Board of Directors - will no longer be the legal representative from June 10. At the same time, the company appointed Mr. Nguyen Thanh Phong to replace Ms. Dang Thi Hoang Yen as the company's legal representative. Previously, Mr. Dang Quang Hanh - Ms. Dang Thi Hoang Yen's younger brother - also resigned from the position of General Director of Tan Tao from April 2023. After that, the company appointed a new General Director, Mr. Nguyen Thanh Phong - who held the position of Deputy General Director 4 years ago and was the person authorized to disclose information of the company. On June 7, Tan Tao published an official dispatch reporting on overcoming the situation of securities being warned in the second quarter of 2023 and requested HOSE to remove the stock from the warning list. Accordingly, ITA said that up to now, the company has disclosed information and resolved all the reasons for putting ITA securities under warning as requested by HOSE. The company has also complied with the regulations on information disclosure and fully explained the information requested by HoSE and the State Securities Commission. The continued extension of the decision to put ITA shares on the warning list has caused serious damage to the company, shareholders, domestic and foreign investors... According to the 2022 Audit Report, Tan Tao recorded a loss of VND 257.9 billion in 2022 and a loss of VND 404.1 billion in 2021. At the close of trading on June 15, ITA shares decreased by VND 80 to VND 6,120/share.
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