Mr. Nguyen Anh Nhuong Tong withdrew from Yeah1

The transaction to divest 12.89% of the capital, equivalent to more than 4 million shares, for the purpose of “personal finance”. Mr. Tong implemented by agreement method on 1/6. The stock hit the ceiling price for three consecutive sessions before and during the trading day, so this businessman collected nearly 70 billion dong.

Before divesting, Mr. Tong nominated 5 staff members for the new term of the Board of Directors (2022-2027) without self-nominating. This means that Mr. Tong will be relieved of his position as Chairman after the mid-month annual meeting, ending 15 years of building this business from an e-newsletter for young people with a turnover of 150 USD in the first year. First media company listed on Ho Chi Minh Stock Exchange.

In the list of Mr. Tong nominated, there are 3 people who are existing staff of Yeah1 including General Director Dao Phuc Tri, two deputy general directors Le Minh Nhat Tin and Le Phuong Thao. Mr. Tri is the only person in the previous term to be nominated to continue to be a member of the Board of Directors of the company.

The other two employees are Mr. Tran Hoai Nam (Chairman and General Director of Thai Tuan Group) and Mr. Nguyen Hoang Giang (Chairman of DNSE Securities Company).

Not only the change of senior personnel, the shareholder structure of Yeah1 has also recently fluctuated strongly. Before Mr. Tong was Ms. Tran Uyen Phuong (Deputy General Director). Tan Hiep Phat) sold 4.1 million shares in the last week of May to reduce its ownership from about 14% to 0.84% ​​and is no longer a major shareholder. DFJ VinaCapital Venture Investment, VinaCapital’s investment fund, previously sold twice to reduce the ratio from 9.74% to 0%.

In two months, more than 36% of the capital has changed owners, but Yeah1 has not disclosed information about having a major shareholder.

The stock price of this company has also fluctuated strongly since the beginning of the year. YEG many times appeared in three consecutive sessions of hitting the floor price, then reversed to increase to the ceiling price and struggled strongly in the range of 16,000-27,000 dong.

According to the document submitted to the mid-month general meeting of shareholders, Yeah1’s management said that this year it will strengthen internally and perfect the system with the goal of streamlining, focusing and efficiency. Revenue is therefore expected to decrease by 45% year-on-year, reaching VND 588 billion – the lowest level since 2017 until now. Meanwhile, profit after tax of shareholders of parent company is expected to increase by 25% over the same period, reaching nearly 25 billion dong.

The company listed 5 main tasks as completing the restructuring; mobilize capital from diverse sources to seize market opportunities; retail model improvement; seek out new business opportunities (like Fintech) and perfect digital transformation. The company also plans to offer 78.6 million shares at the price of 10,000 dong. Most of the proceeds are used to invest in technology communication, the rest is invested in technology infrastructure and debt repayment.

Eastern