Mr. Trinh Van Quyet’s shares worth nearly 200,000 VND were suspended

Exchange Securities Ho Chi Minh City (HoSE) has just announced that GAB shares of FLC Mining Investment & Asset Management Joint Stock Company (FLC GAB) have been suspended from trading since the end of the day. These 2/15 enterprises have not yet published information about their 2022 semi-annual reviewed financial statements within 6 months of the prescribed deadline.

Previously FLC GAB was transferred from controlled status to restricted transaction status in September 2022 due to the company’s delay in submitting reports finance 2022 semi-annual review 45 days beyond regulations. At the end of December 2022, this company was also monitored under control because the shares had no transactions for 9 months.

Before there were no transactions, the market price of GAB shares was at 196,400 VND/stock capitalization enterprise respectively reached nearly 3,000 billion VND. This stock once had the second highest market price on HoSE.

GAB was a phenomenon in 2020 when it skyrocketed from less than 10,000 VND/share to nearly 200,000 VND/share. This company once announced a plan to merge with another FLC family business, FLC Faros Construction Joint Stock Company (stock code: ROS) in 2020 but then did not implement it.

Mr. Trinh Van Quyet currently holds control over FLC GAB with a 55% ownership rate but does not hold any executive management position at this company.

Previously on February 14, HoSE announced announced the delisting of FLC shares from February 20 due to Mr. Quyet’s group seriously violating information disclosure obligations. FLC Faros’s ROS shares have also been delisted by HoSE from August 2022.