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The FLC group spoke up after Mr. Trinh Van Quyet arrested

On the evening of March 29, the FLC Group Joint Stock Company (FLC Group) issued a statement after Trinh Van Quyet, Group Chair, was charged and detained for investigating stock market manipulation.

According to the FLC, the case relates to Mr Trinh Van Quyet who personally carried out securities trading transactions recently and is still under preliminary investigation. Mr. Trinh Van Quyet has been and continues to coordinate with the relevant authorities in the process of investigating and clarifying related issues.

FLC group speaks up after Mr Trinh Van Quyet's arrest - 1

Mr. Trinh Van Quyet, Chairman of the FLC Group, before his arrest

FLC Group said the incident in no way affected or changed FLC’s important orientation in production, investment, business activities and sustainable development in the future. At the same time, it also does not affect the legitimate rights and interests of customers, shareholders, as well as partners who carry out transactions and cooperation with FLC.

According to the FLC Group, Mr. Trinh Van Quyet has authorized Ms. Vu Dang Hai Yen, Deputy General Director of the FLC Group, to represent and represent Mr. Trinh Van Quyet to carry out the duties and rights of the Owner. Director of the Joint Stock Company Group of FLC – Chairman of the Board of Directors of the Joint Stock Company Tre Viet Aviation (Bamboo Airways); as well as all shareholder rights in the two companies mentioned above in accordance with the law and the company charter.

At the same time, Mr. Trinh Van Quyet also authorized Ms. Vu Dang Hai Yen to own all rights related to the assets and property rights under the ownership of Mr. Quyet.

In addition to this decision, the FLC Board of Directors also holds a meeting and immediately formulates steps and plans to ensure that FLC’s business activities run stably in the new situation, in accordance with the goals and plans set by the Board of Directors. and the General Board of Directors.

Previously, on January 10, 2022, Mr Trinh Van Quyet sold 74.8 million shares of FLC but did not report or disclose any information prior to making the transaction. Soon after, the State Securities Commission took the decision to block Mr. Trinh Van Quyet’s securities account, in order to prevent and prevent further unlawful actions. The State Securities Commission also issued a document directing the Ho Chi Minh City Stock Exchange to cancel the sale of 74.8 million FLC shares by Mr. Quyet.

On January 18, the State Securities Commission issued a decision to impose administrative sanctions on Mr. Trinh Van Quyet 1.5 billion VND, the highest rate according to regulations. The chairman of the FLC Group is also subject to additional sanctions in the form of suspension of securities trading activities for 5 months.

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