More than 700 million FLC shares to be delisted from HoSE

The reason given by HoSE is that FLC has seriously violated its obligation to disclose information and in other cases where the HoSE or the State Securities Commission found it necessary to delist as stipulated in Article 120, Decree 155/2020/ND-CP of December 31, 2020. According to HoSE, the decision is aimed at protecting the rights of investors.

FLC's shares are expected to continue trading on the UPCoM after being delisted from HoSE. The company's shares were transferred from the restricted trading list to the suspension list in early September 2022 due to continuous violations of information disclosure regulations.

FLC had failed to hold its annual general meeting of shareholders, disclose its audited financial statements for 2021, and select an auditing firm to report its financial statements for this year. FLC has not been able to carry out these tasks to date.

FLC will convene a second extraordinary general meeting of shareholders in 2023, after the first meeting failed due to a lack of quorum. The meeting is scheduled to take place on March 4 in Hanoi.

The main agenda of the meeting is to dismiss member of the Board of Directors Dang Tat Thang and elect a new member of the Board of Directors for the 2021-2026 term.

HoSE's decision to delist FLC's shares is due to the company's serious violation of information disclosure regulations. FLC's shares are expected to continue trading on UPCoM. Meanwhile, FLC will hold an extraordinary general meeting of shareholders to dismiss a board member and elect a new member.