The above information was provided by the State Audit in the Financial Report, activities related to the management and use of state capital and assets in 2022 of the Vietnam Chemical Group and was mentioned by this agency in the report summarizing the recommendations of the State Audit to the Government, Prime Minister, ministries, central agencies, localities, and units from the audit results in 2023.

Vinachem's divestment from DGC is part of the roadmap for implementing the Vinachem restructuring project for the 2017-2020 period of the Government Office, under the project "Restructuring state-owned enterprises, focusing on economic groups and state-owned corporations for the 2021-2025 period" under the direction of the Prime Minister.

Vinachem is a major shareholder (and also a related person of an insider) of Duc Giang Chemical Group Joint Stock Company.

The number of shares owned by Vinachem at DGC is 15,144,090 shares, equivalent to 8.85% of the total number of outstanding shares of DGC as of September 30, 2021. In October 2021, Vinachem announced the transfer of all of these shares of Vinachem at Duc Giang Chemicals.

Vinachem has conducted transactions to sell DGC shares from November 8, 2021 to December 7, 2021. At the end of December 7, 2021, the Group successfully sold 9,105,000 DGC shares and had 6,039,090 DGC shares remaining unsold.

After that, Vinachem continued to sell DGC shares from January 13, 2022 to February 11, 2022. But at the end of February 11, 2022, the shares were not sold successfully. Therefore, Vinachem announced to continue selling in March 2022.

In this sale, Vinachem has completed the sale of all more than 6 million DGC shares, equivalent to 3.53% of the total outstanding voting shares of Duc Giang Chemical Group. The transaction was carried out by order matching method from March 3 to March 10, 2022.

Duc Giang Chemical Group Joint Stock Company, formerly Duc Giang Chemical Company, is a state-owned enterprise under the General Department of Chemicals of Vietnam, established in 1963.

The State Audit also requested the Ministry of Natural Resources and Environment to organize inspections and handle according to regulations the exploitation and performance of obligations to the State budget regarding the mining right fee of Apatite Vietnam One Member Co., Ltd. for type I apatite ore exploited in excess of the reserves according to Mineral Exploitation License No. 05/GP-BTNMT, exploitation of secondary poor ore type IV and products with P2O5 content of approximately 12% at Quarry 10, Cam Duong 1 area without a permit decision from the competent authority.
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