According to the announcement, the sale transaction of Mr. Dang Thanh Tam, Chairman of the Board of Directors of Kinh Bac Urban Development Corporation, is expected to take place from September 9 to October 8. It is estimated that according to the current market price of VND26,750 of KBC, the amount of shares he registered to sell is worth about VND2,315 billion.
This is a transfer of ownership transaction by Mr. Dang Thanh Tam contributing capital in KBC shares to DTT Investment and Development Joint Stock Company. After completing the transaction, Mr. Dang Thanh Tam still owns 52.1 million KBC shares, equivalent to 6.79% of capital.
Mr. Dang Thanh Tam transferred ownership of nearly 86.6 million Kinh Bac shares.
In contrast, DTT Investment and Development Joint Stock Company will become a major shareholder of Kinh Bac Corporation with 11.3% of capital. This is a company whose controlling shareholder and director is Mr. Dang Thanh Tam.
In addition to Mr. Tam personally owning a large amount of KBC shares, the list of related people currently includes Ms. Dang Nguyen Quynh Anh - Mr. Tam's daughter - who is also a member of the Board of Directors of Kinh Bac Corporation with a 1.74% ownership ratio; Vinatex - Tan Tao Investment Joint Stock Company, of which Mr. Tam is the General Director, owns 5.11% of KBC capital.
In mid-June, Kinh Bac Corporation also announced the use of Mr. Dang Thanh Tam's KBC shares as collateral to fulfill the company's debt repayment obligations for loans in 2024. The number of KBC shares expected to be used is 10 million. The guarantee period is calculated from the date of issuance of loans from June 17 until all debt repayment obligations are completed.
KBC's consolidated financial report for the second quarter of 2024 showed that the company's net revenue in the second quarter of 2024 reached nearly VND892 billion and net profit of VND237 billion, down 62% and 76% respectively compared to the same period last year. The company said the reason was that during the period, the company recorded less revenue from industrial park business activities compared to the same period, meaning the amount of industrial park land handover decreased.
Accumulated in the first 6 months of 2023, Kinh Bac achieved revenue of VND 1,044 billion and profit after tax of nearly VND 1,921 billion, down 77% and 92% respectively compared to the first half of 2023.
Source: https://thanhnien.vn/ong-dang-thanh-tam-chuyen-quyen-so-huu-gan-866-trieu-co-phieu-kinh-bac-185240831155342949.htm
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