FLC Group Joint Stock Company has just announced the resolution of the Board of Directors on approving issues related to the transfer of shares at Bamboo Airways Joint Stock Company. Accordingly, the Board of Directors of FLC has approved the transaction with the related party, Mr. Le Thai Sam - a member of the Board of Directors of the company; approved the draft contract in principle on the transfer of Bamboo Airways shares owned by FLC Group to Mr. Le Thai Sam (permanent resident in District 5, Ho Chi Minh City).
FLC announced the transfer of all shares at Bamboo Airways to Mr. Le Thai Sam
At the same time, the Board of Directors also approved the agreement related to Mr. Le Thai Sam's non-refundable funding of a sum of money for FLC Group to restructure loans and release assets being used as collateral at banks; the authorization of FLC's shareholder rights at Bamboo Airways to Mr. Le Thai Sam corresponding to the entire number of FLC shares owned here; through the liquidation of loan contracts and debt offset between FLC and Mr. Le Thai Sam.
Mr. Le Thai Sam received the transfer of all FLC shares at Bamboo Airways.
It is known that FLC Group's current investment in Bamboo Airways is about VND 4,015 billion, equivalent to 21.7% of the airline's charter capital. By the end of 2022, FLC is estimated to have set aside a loss provision of VND 3,642 billion for this investment, equivalent to Bamboo Airways having an accumulated loss of nearly VND 16,783 billion.
Thus, FLC will transfer more than 400 million shares in Bamboo Airways to Mr. Le Thai Sam, in exchange for liquidating all debts. According to FLC's financial report for the third quarter of 2022, the company owes Mr. Le Thai Sam 621 billion VND.
Mr. Le Thai Sam has been a member of the FLC Board of Directors since July 2022 - after Mr. Trinh Van Quyet - former Chairman of FLC was arrested for stock price manipulation. In August 2022, Mr. Sam continued to participate in the Board of Directors of Bamboo Airways.
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Previously, FLC shareholders approved the divestment plan from Bamboo Airways according to the proposal of the company's general director.
Last weekend, the National Bank (NCB) also "revealed" itself as a major shareholder holding 203 million shares, equivalent to 11% of Bamboo Airways' capital, when the bank announced its divestment plan.
Source: https://thanhnien.vn/lo-dien-ca-nhan-nhan-chuyen-nhuong-toan-bo-co-phan-bamboo-airways-tu-tap-doan-flc-185230509102930807.htm
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