CAD: Information on CAD’s situation

On January 13, 2012, the Hochiminh Stock Exchange announced the financial statements of Quarter 4/2011 of Cadovimex Seafood Import-Export And Processing Joint Stock Company. According to the statements, the Company continued having a loss of VND272.02 billion in Quarter 4/2011, a loss of VND305.83 billion for the whole year 2011, and the owner’s equity at December 31, 2011 was (-VND165.21 billion). Besides, the Company had losses in 2009 and 2010.

Therefore, basing on Article 21, Provision 1, Decree 84/2010/ND-CP amending Article 14.1(dd) of Decree 14: ““Stock will be delisted in the following cases: Business and production results suffered a loss for three consecutive years, or total accumulated losses exceeded equity in the financial statements of the most recent year prior to the date of consideration.”, the Hochiminh Stock Exchange will consider a mandatory delisting to CAD if in 2011 the Company continues suffering a loss after audited. 

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