ANTD.VN - HOSE has announced the mandatory delisting of SJF shares of Sao Thai Duong Investment Joint Stock Company, even though the company has sent a request for an extension to submit its audited financial statements.
According to the decision of Ho Chi Minh City Stock Exchange (HOSE), the number of delisted securities is 79.2 million shares, the value of delisted securities at par value is 792 billion VND.
The reason for delisting is that Sao Thai Duong seriously violated the obligation to disclose information, which is a case of securities being compulsorily delisted according to regulations.
The effective date of delisting is November 1, 2024. The last trading date is November 10, 2023 (as SJF shares are suspended from trading since November 13, 2023 according to Decision No. 726/QD-SGDHCM dated November 6, 2023).
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Sao Thai Duong is facing many difficulties in production and business. |
Previously, on October 24, 2024, Sao Thai Duong Investment Joint Stock Company sent an explanatory letter to the State Securities Commission and Ho Chi Minh City Stock Exchange, requesting an extension of the deadline for submitting audited financial statements.
The company said it is focusing on collecting and providing documents as required by the auditor so that the auditing company can perform the contract to provide mid-year financial statement review services for the period from January 1, 2024 to June 30, 2024 and audit the financial statements for the fiscal year ending December 31, 2024.
Due to the relatively large volume of documents, the auditors need more time to study the documents, the Company would like to extend the deadline for submitting the 2024 Semi-Annual Reviewed Financial Report to November 8, 2024.
The company hopes that the Ho Chi Minh City Stock Exchange will consider carefully before making a decision regarding the delisting of SJF shares because the delisting will directly affect the interests of more than 6,600 shareholders and employees of the company.
However, this proposal of the Company was not accepted, SJF shares were still subject to mandatory delisting.
Regarding business situation, Sao Thai Duong is also facing many difficulties. The company has recorded consecutive losses in recent quarters. Specifically, in the fourth quarter of 2023, the company lost more than 32.7 billion VND, in the first quarter of 2024, it continued to lose 3.6 billion VND and in the second quarter of 2024, it lost an additional 4.57 billion VND according to its self-made financial report.
Source: https://www.anninhthudo.vn/hose-huy-niem-yet-co-phieu-sao-thai-duong-sjf-tu-111-post593744.antd
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