HPX leaders had millions of shares sold for collateral before trading suspension date

According to the announcement, Mr. Do Quy Hai - Chairman of the Board of Directors of Hai Phat Investment Joint Stock Company (code HPX) had 1.4 million HPX shares sold by the securities company via order matching method on September 15. After the transaction, Mr. Hai's ownership ratio at HPX decreased from 13.89% to 13.43%, equivalent to nearly 41 million shares.

A project of HPX

Previously, on September 14, Mr. Do Quy Hai also had 1.5 million HPX shares sold for collateral. In recent days, a number of securities companies have continuously announced the sale of Mr. Do Quy Hai's shares. For example, Techcom Securities Company said it would sell for collateral nearly 2.7 million HPX shares owned by Mr. Do Quy Hai from September 12 until the margin ratio is met (so in reality, the number of shares sold for collateral may change due to price changes). Or Petroleum Securities Company also announced that it would sell for collateral 1.3 million HPX shares owned by Mr. Do Quy Hai and 480,000 HPX shares owned by HPX Deputy General Director Le Thanh Hai from September 11.

The liquidation activities of securities companies at HPX took place after this stock received a decision to suspend trading since September 18 due to continuous violations of information disclosure obligations and not yet publishing the semi-annual audit report for 2023. Before being suspended from trading, HPX shares continuously fell to VND5,460, down more than 25% compared to the beginning of September.

In a recent letter to shareholders, Mr. Do Quy Hai - Chairman of the Board of Directors of HPX - said that the suspension of trading of HPX shares was unintended. The Board of Directors and the Executive Board of HPX sent their apologies to shareholders. The company hopes to successfully organize the upcoming annual shareholders' meeting to bring HPX shares back to normal trading as soon as possible, ensuring the rights of shareholders and stabilizing the company's business situation.

The 2023 Annual General Meeting of Shareholders is scheduled to be held on October 21. Mr. Do Quy Hai said that successfully organizing the meeting will be the key to helping the company overcome violations in information disclosure, creating conditions for proposing to lift the trading suspension order.

Source: https://thanhnien.vn/lanh-dao-hpx-bi-ban-giai-chap-hang-trieu-co-phieu-truoc-ngay-dinh-chi-giao-dich-18523091915270334.htm