Before receiving the delisting order, shares of this steel company were also suspended from trading since September 16.
Before receiving the delisting order, shares of this steel company were also suspended from trading since September 16.
The Ho Chi Minh City Stock Exchange (HoSE) has announced the mandatory delisting of TNA shares of Thien Nam Import-Export Trading Joint Stock Company (code TNA, HoSE). Accordingly, nearly 49.6 million TNA shares will be delisted from November 19. The last trading day of TNA shares on HoSE is September 13 because this stock has been suspended from trading since September 16.
The Stock Exchange said that the company had seriously violated its information disclosure obligations, falling into the case of securities being subject to mandatory delisting as prescribed in Point o, Clause 1, Article 120 of Decree 155/2020/ND-CP dated December 31, 2020.
Previously, TNA shares were notified by HoSE to be subject to mandatory delisting due to being monitored for violations including: trading suspension, control and warning. However, at the time of review, Thien Nam's information disclosure violations had not been resolved, were likely to continue and prolong, seriously violating the obligation to disclose information and affecting the rights of shareholders.
According to HoSE, since the time of suspension of trading, the company's information disclosure violations have not been resolved and are likely to continue to occur and prolong, seriously violating the obligation to disclose information and affecting the rights of shareholders.
Regarding business performance, Thien Nam Import Export Trading recorded a 95% decrease in revenue compared to the same period last year, reaching 46.3 billion VND. The company recorded a loss of 10 billion VND while in the same period last year it made a profit of 2.6 billion VND.
Accumulated in the first 9 months of 2024, revenue reached more than 718 billion VND, down 81.7% over the same period last year, reporting a loss of 36.5 billion VND while in the same period last year, it made a profit of 5.8 billion VND.
In mid-September 2024, explaining the suspension of trading of shares, Thien Nam's leaders said that the Company's Board of Directors has been actively working with the auditors in the past. However, up to now, there are still some figures that have not been agreed upon between the Company and the auditors during the audit of the 2023 Financial Statements and the 2024 Semi-Annual Reviewed Financial Statements.
Therefore, Thien Nam has not yet been able to publish the audited financial statements for 2023 and is slow to publish the audited semi-annual financial statements for 2024 in accordance with regulations.
"Our company would like to take responsibility for this mistake with the agency and shareholders. We will continue to work with the auditing unit to publish the above reports on time," Thien Nam's leader emphasized at that time.
On October 9, the company received a decision from the District 10 Tax Department, Ho Chi Minh City, on the enforcement of administrative decisions on tax management. Specifically, the company owed taxes, fines, and late tax payments for more than 90 days from the tax payment deadline with a total amount of VND 411.1 million. The company said it had paid the tax on October 8, 2024.
Previously, another case was also compulsorily delisted by HoSE due to serious violations of information disclosure obligations. Specifically, 79.2 million SJF shares of Sao Thai Duong Investment Joint Stock Company (code SJF, HoSE floor) were compulsorily delisted from November 1, 2024.
HoSE also issued a document stating that SJF shares are being monitored for violations and the Department will consider mandatory delisting. Specifically, SJF shares are under HoSE's control because the audited financial statements for two consecutive years (2022-2023) recorded an exception audit opinion, in addition, the company's net profit in these two years was negative. Most recently, this unit was 30 days late in announcing the audited financial statements for the 2024 half-year compared to the prescribed deadline. In addition, SJF shares are also under warning because the undistributed profit after tax in the audited consolidated financial statements for 2023 is negative.
Before being put under the above control and warning, SJF shares were suspended from trading from November 13, 2023 because the Company continued to violate information disclosure regulations after being placed under trading restrictions. HoSE said that since the time of suspension, the Company's information disclosure violations have continued to occur and are likely to continue, thereby seriously violating the obligation to disclose information and the rights of shareholders.
Source: https://baodautu.vn/huy-niem-yet-bat-buoc-co-phieu-thien-nam-tna-d229929.html
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