Debt in financial reports for 2 consecutive quarters, the incident has not calmed down with Loc Troi

According to Loc Troi's leadership, the company encountered a force majeure event that prevented it from publishing its financial report on time. Up to now, the company has not been able to overcome the situation.

Loc Troi shares increased this morning (November 8) despite being restricted from trading - Photo: LT

Loc Troi Group Joint Stock Company recently sent a document to the Securities Commission to extend the announcement of financial statements for the third quarter of 2024.

According to Loc Troi's leadership, the company encountered a force majeure event that resulted in it not being able to publish its financial report on time.

In particular, Loc Troi encountered problems affecting capital flow for production and business activities, the entire company had to focus on handling immediate financial issues.

The 2024 Annual General Meeting of Shareholders will be held later than in previous years. After the meeting, Loc Troi said there had been a change in key personnel. The company is currently in the process of perfecting its management apparatus.

Therefore, Loc Troi had to convene an extraordinary general meeting of shareholders around December this year to dismiss and elect additional members of the Board of Directors and the company's Board of Supervisors.

On October 21, the Hanoi Stock Exchange put Loc Troi's LTG shares under trading restriction.

Investors can only trade this stock code on Fridays every week. The reason why Loc Troi's shares are restricted is because the company has not yet published its audited semi-annual financial report for 2024 on time.

In July this year, LTG also had to postpone the announcement of its second quarter financial report due to force majeure and committed to announcing the information as soon as the situation was resolved.

On August 19, LTG signed an auditing contract with E&Y Vietnam to review the mid-year financial statements and audit the 2024 financial statements. Recorded in this morning's session (November 8), LTG shares increased by nearly 2.6%, to the 8,000 VND/share area.

Talking with Tuoi Tre Online this morning (November 8) , Loc Troi representative said that they still have to postpone submitting financial reports to have more time to clarify some issues.

"There is no agreement between the parties. Therefore, more time is needed for everything to be clear, especially in the context of Loc Troi's changes compared to before," he said.

Loc Troi personnel changes

Amid the scandal of accusations against former general director Nguyen Duy Thuan, Loc Troi has recently appointed Mr. Nguyen Tan Hoang as general director, the appointment decision taking effect from October 16.

According to the attached information, Mr. Nguyen Tan Hoang, 47 years old, is holding 15,000 shares, equivalent to 0.015% of the company's charter capital.

Before taking the position of general director, Mr. Hoang held the position of chief accountant of the group from 2012 to present.

Currently, Mr. Hoang is also the General Director of Loc Troi Agricultural Products Joint Stock Company, Chairman of the Board of Directors of Quan Nong Xanh Joint Stock Company, Chief Accountant of Loc Nhan Food Joint Stock Company and Chairman of the Board of Directors of Vinh Hoa Rice Bran Oil Extraction Company Limited.

Source: https://tuoitre.vn/no-bao-cao-tai-chinh-2-quy-lien-bien-co-chua-lang-voi-loc-troi-20241108100315014.htm