Foreign funds rush to increase REE purchases, "female general" Nguyen Thi Mai Thanh leaves the Chairwoman position

For the first time since 1993, Ms. Nguyen Thi Mai Thanh has given up her position as Chairwoman of REE's Board of Directors.

For the first time since 1993, Ms. Nguyen Thi Mai Thanh has given up her position as Chairwoman of REE's Board of Directors.

Refrigeration Electrical Engineering Corporation (REE) has just attracted attention when it decided to change senior personnel at the end of the year. Notably, Ms. Nguyen Thi Mai Thanh - who is considered the "female general" who built REE's current foundation, officially left the position of Chairwoman of the Board of Directors from November 22, 2021.

Replacing Ms. Mai Thanh is Mr. Alain Xavier Cany, previously Vice Chairman of REE Board of Directors.

Along with the decision to replace the Chairman of the Board of Directors, REE also decided that Ms. Mai Thanh will replace Mr. Le Nguyen Minh Quang as General Director. Mr. Le Nguyen Minh Quang was dismissed according to the agreement to terminate the labor contract, even though he only took office in July 2024.

Ms. Mai Thanh previously held the position of Chairwoman of the Board of Directors and General Director of REE since 1993 and handed over the position of General Director from 2020 to comply with the provisions of Decree 71/2017/ND-CP.

Mr. Alain Xavier Cany joined REE in 2021, representing the foreign fund Platinum Victory Pte.Ltd.

The change in senior personnel at REE took place in the context of foreign shareholder Platinum Victory Pte.Ltd. continuously increasing its share purchase. This is an investment fund belonging to Jardine Matheson Group, participating in investing in REE after converting bonds into shares since 2013.

Recently, Platinum Victory Pte.Ltd. has registered to buy 30 million REE shares from November 22 to December 20, 2024.

Previously, this investment fund had just completed a public offering of REE shares and successfully purchased 4 million shares at VND80,000/share, equivalent to a cost of VND320 billion. This price was 25% higher than REE's market price at that time and even higher than REE's peak to date, demonstrating the determination of this foreign shareholder to increase ownership. After the transaction, Platinum Victory Pte.Ltd. increased its ownership ratio to 35.7% of REE, gaining the necessary veto ratio for important decisions within the authority of the General Meeting of Shareholders.

If the purchase of 30 million shares is successful in the near future, the controlling ratio will increase to 42.07% of REE. The transaction will take place in the form of an agreement or order matching transaction on the stock exchange or through the Vietnam Securities Depository and Clearing Corporation (VSDC).

Currently, Ms. Mai Thanh still holds more than 12.8% of REE shares and her husband, Mr. Nguyen Ngoc Hai, is also a major shareholder with an ownership ratio of more than 5.4%.

Source: https://baodautu.vn/quy-ngoai-don-dap-tang-mua-ree-nu-tuong-nguyen-thi-mai-thanh-roi-ghe-chu-tich-d230807.html