Real estate giant's shareholders' meeting fails, leader resigns

According to the results of the delegate qualification examination, the total number of shareholders and authorized representatives participating was 217, representing more than 41 million outstanding shares, accounting for 16.26% of the total number of voting shares. Based on the regulations, the meeting was not eligible to proceed.

The company will convene the 3rd general meeting of shareholders within 20 days from June 22.

Previously, the first General Meeting of Shareholders was also unsuccessful due to lack of shareholders attending.

In 2022, LDG had to hold the 3rd General Meeting of Shareholders. In 2021, LDG also had two unsuccessful General Meetings of Shareholders.

LDG has also just announced the resignation of Mr. Trinh Quoc Nam from the position of member of the Board of Directors (BOD) from June 22. Mr. Nam is currently a member of the BOD and Chairman of the Audit Committee.

LDG's 2nd Annual General Meeting of Shareholders in 2023 failed. (Photo: Vietnamfinance)

According to the documents of the 2nd General Meeting of Shareholders, three members of the Board of Directors, Mr. Louis Nguyen, Mr. Le Van Vu and Mr. Ngo Ngoc Huyen, resigned for personal reasons. Of which, Mr. Louis Nguyen is the Chairman of the Board of Directors and General Director of Saigon Asset Management (SAM). He has only joined the Board of Directors of LDG for exactly one year, from June 30, 2022.

Previously, Chairman Nguyen Khanh Hung had 4.984 million LDG shares sold for mortgage from May 18 to May 19. After the transaction, Mr. Hung is no longer a major shareholder in the company when his ownership ratio decreased from 5.86% to 3.92% of charter capital.

Business News

The stock market has a number of other important events of listed companies.

* IBC : Bao Viet Securities (BVSC) announced the sale of mortgaged securities of customers who are related parties of insiders for Apax Holdings (IBC) shares owned by Egroup Education Corporation.

BVSC plans to sell 15 million IBC shares, equivalent to about 18% of Apax Holdings' capital. The expected transaction time is from June 22 to July 12. The transaction method is through order matching or negotiation.

* TLG : Thien Long Group Corporation has set the transaction date without the right to receive the remaining dividend in 2022 and the first advance payment in 2023 as June 23, the last registration date is June 24. Dividends will be paid in cash at a total rate of 20%, payment starting from July 5.

* OCB : On June 22, Orient Commercial Bank approved a resolution to offer and issue a maximum of VND 26,000 billion in private, non-convertible bonds, with a face value of VND 1 billion, divided into 15 installments from the second quarter to the end of the fourth quarter of 2023.

* PTL : Victory Capital JSC approved a plan to issue an additional 100 million individual shares at VND10,000/share to raise VND1,000 billion. The issued shares are restricted from transfer for 3 years for strategic investors and 1 year for professional securities investors, expected to be implemented in the third or fourth quarter of 2023.

* VGT : Vietnam Textile and Garment Group (Vinatex) will close the list of shareholders to pay 2022 cash dividends at a rate of 6%, equivalent to shareholders owning 1 share will receive 600 VND.

Transaction information

* HSG : On June 16, Dragon Capital Fund bought an additional 2.13 million HSG shares of Hoa Sen Group Corporation. Of which, Hanoi Investments Holdings Limited Fund bought 1.45 million shares and Norges Bank bought 680,000 shares.

* DPM : A group of foreign shareholders managed by Dragon Capital at PetroVietnam Fertilizer and Chemicals Corporation sold 800,000 shares on June 16. This group still holds more than 23.12 million shares, accounting for 5.9%.

* TDH : Mr. Nguyen Quang Nghia, a major shareholder of Thu Duc Housing Development Corporation, bought more than 3.89 million TDH shares on June 20. Mr. Nghia currently owns more than 21.07 million shares, accounting for 18.7%.

* SHS : Ms. Nguyen Thuy Hanh Mai, authorized person to announce information at Saigon - Hanoi Securities Corporation, registered to sell all of more than 178,000 SHS shares. The transaction is expected to take place from June 26 to July 20 by negotiation and order matching.

* AAA : An Phat Holdings Corporation, the parent company of An Phat Green Plastics Corporation (AAA) registered to sell 10 million shares from June 27 to July 26 by negotiation and order matching.

* HDC : Mr. Pham Van Bay, brother-in-law of Mr. Doan Huu Thuan, Chairman of Hodeco Board of Directors, registered to buy 30,000 shares, the transaction is expected to take place from June 26 to July 24.

VN-Index

At the close of June 22, VN-Index increased by 6.84 points (+0.61%), to 1,125.3 points. HNX-Index increased by 0.14 points (+0.06%), to 231.91 points. UpCoM-Index increased by 0.05 points (+0.06%), to 85.5 points.

According to KB Vietnam Securities, in a positive scenario, VN-Index has many opportunities to surpass the old peak around 1,125-1,130 points before facing more obvious correction pressure.

Investors are recommended to continue applying the rotation trading strategy, holding a part of the position and combining buying at support - selling at resistance for each individual code with the remaining position.

BIDV Securities commented that the market returned to the resistance level of 1,125 points today and ended the session up nearly 7 points, recording the third consecutive recovery session.

The breadth was positive with 14 out of 18 sectors gaining points, with tourism and entertainment, personal and household goods leading the gains. In addition, the chemicals and real estate sectors also had positive trading sessions.

In the short term, VN-Index may accumulate more in this area to gain momentum to bounce back.

Chairman of real estate company had nearly 5 million shares sold for collateral Mr. Nguyen Khanh Hung, Chairman of LDG Board of Directors, continued to have nearly 5 million shares sold for collateral and is officially no longer a major shareholder.

Source