ANTD.VN - RDP shares of Rang Dong Holding will be transferred from restricted trading to suspended trading due to prolonged violations of information disclosure obligations.
Accordingly, HOSE said that previously, this unit issued a decision to transfer the stock from controlled to restricted trading from October 24, 2024 (only allowed to trade in the afternoon session of the trading day by centralized order matching method and negotiated trading method). The reason is that the listed organization is late in submitting the audited semi-annual financial statements (BCTC) for 2024 (separate and consolidated) more than 45 days from the prescribed deadline.
However, after being put on the restricted trading list, RDP continued to violate information disclosure. The Ho Chi Minh City Stock Exchange has issued two official dispatches reminding the company about the delay in disclosing financial statements for the third quarter of 2024 (individual and consolidated).
“Up to now, the Ho Chi Minh City Stock Exchange has not yet received RDP's audited semi-annual financial statements for 2024 and third quarter financial statements for 2024,” HOSE said.
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Rang Dong Holding faces difficulties in production and business and personnel disruption |
Therefore, based on current regulations, HOSE announced that RDP shares have fallen into the category of securities with trading suspension and this unit will transfer the shares from restricted trading to suspended trading according to regulations.
Explaining the reason for the delay in disclosing information, Rang Dong Holding said that the Company is currently facing difficulties with human resources, especially many accounting staff have quit. Therefore, the Company has not completed submitting the Financial Report on time. Rang Dong Holding commits to focus on completing the Financial Report for the third quarter of 2024 and announcing it as soon as possible.
Rang Dong Holding Joint Stock Company is known for its famous Rang Dong Plastic brand. However, recently, this enterprise has been facing continuous difficulties. At the end of 2023, the Company received a verdict of losing the lawsuit against foreign shareholder Sojitz Planet Corporation (belonging to Sojitz Group - Japan) and had to pay back nearly 157 billion VND along with related fees and charges.
After this event, Mr. Ho Duc Lam, Chairman of the Board of Directors, continuously sold shares and had about 19 million RDP shares liquidated, reducing his ownership ratio from 45% to only 6.09% currently.
Last August, General Director Ha Thanh Thien submitted his resignation, and was replaced by Mr. Huynh Kim Ngan, who had never held any position at Rang Dong Holding.
Regarding business results, in the second quarter of 2024, Rang Dong Holding recorded a loss of 66 billion VND after tax (while in the same period it made a profit of more than 10 billion VND), with a cumulative net loss of 64 billion VND in the first 6 months of the year.
On the market, at the end of the trading session on November 19, RDP shares fell another 4%, to only 1,680 VND/share. This price has decreased by about 80% compared to the beginning of 2024.
Source: https://www.anninhthudo.vn/dinh-chi-giao-dich-co-phieu-rdp-cua-rang-dong-holding-post595995.antd
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