FLC announced the convening of the second extraordinary shareholders' meeting in 2024 to seek opinions on the dismissal and election of additional senior personnel.
FLC Group Joint Stock Company (stock code: FLC) has just announced a resolution on convening the second extraordinary general meeting of shareholders this year. The list of shareholders attending the meeting was finalized on September 10. FLC has not yet set a specific time and location for the meeting and said it will announce it later.
According to the resolution, the upcoming meeting's contents include dismissal, election of additional members of the Board of Directors, Supervisory Board, amendment of the operating regulations of the Board of Directors, Supervisory Board and other issues under the authority of the General Meeting of Shareholders .
FLC has not yet held an annual meeting. The last time the company held a shareholders' meeting was an extraordinary meeting on February 20, with 103 shareholders representing 33.732% of the voting shares in attendance.
At the meeting, information about FLC's situation after the restructuring period was revealed. Specifically, according to the Company's Board of Directors, the two years 2022-2023 are an extremely difficult and challenging period for the Company as it has to go through many difficulties in its operations due to being directly affected by information as well as issues arising related to the case of former senior leaders.
Currently, FLC's total asset value is estimated at over 21,000 billion VND. FLC has been researching and approaching many projects spanning over 20 provinces and cities across the country. The company has paid the state budget about 800 billion VND, and fulfilled debt obligations of about 4,400 billion VND.
After a strong restructuring process, the adjusted personnel structure reduced 60% of the regular staff, balanced the organizational structure and stabilized income for more than 3,500 employees, with total salaries and bonuses in 2023 reaching more than 300 billion VND. The FLC ecosystem currently has 14 subsidiaries (FLC owns 50% to 100% of charter capital) and one affiliated company.
At that time, the Company also elected 2 new members to the Board of Directors, including Mr. Le Tien Dung and Ngo Dang Hoang Anh, to replace the old members who had resigned. Both were assessed as suitable for the business orientation and restructuring of FLC in the coming time. FLC's Board of Directors has had 5 members since then.
This year, FLC affirmed that it will continue to promote restructuring and reshaping core areas with three main pillars including real estate business, resort business and M&A projects to restructure loans and maintain business operations.
The plan set for this year for FLC's Real Estate Business segment is to achieve a turnover of VND1,187.2 billion to complete the construction of projects as committed to customers. The Group said it will restructure its assets by retaining good quality assets with high profitability while transferring or cooperating to invest and trade some assets to generate financial resources.
For the hotel and resort tourism sector, the Company aims to achieve revenue of VND 1,213 billion this year and enough profit to maintain the apparatus as well as fulfill commitments to many stakeholders such as state agencies, customers, and banks.
Failure to publish financial statements caused FLC shares to be delisted from the Stock Exchange in mid-February 2023. The shares were transferred to register for trading on the UPCoM market half a month later and were approved by the Hanoi Stock Exchange (HNX). However, immediately after this approval announcement, HNX issued an additional decision to suspend trading of the shares.
According to HNX, FLC still meets the conditions of a public company, so its shares are registered for trading on the UPCoM market according to regulations. However, this enterprise continues to fall into the case of "stocks suspended from trading" because it previously seriously violated information disclosure regulations.
FLC's Board of Directors said that the audited financial statements for 2021 and 2022 as well as the quarterly and semi-annual financial statements for 2023 have not yet been released because the company and the auditor, UHY Auditing and Consulting Co., Ltd., have not reached a consensus on the audit opinion.
Source: https://baodautu.vn/flc-trieu-tap-hop-co-dong-bat-thuong-d223054.html
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