LAF: LAFOOCO faces delisting from HOSE

According to the Quarter III/2012 financial statements, the loss after tax of Long An Food Processing Export Joint Stock Company (LAFOOCO) in the first nine months is VND144.5 billion, and the accumulated loss until now is VND132.6 billion, while the paid-up capital is VND147.28 billion.

-         Based on Point dd - Clause 1 - Article 60 of Decree No. 58/2012/ND-CP: “Stock will be delisted in the following cases:…Business and production results suffered a loss for three consecutive years, or total accumulated losses exceeded paid-up capital in the financial statements of the latest year prior to the date of consideration.”, the Company has losses in four consecutive quarters from Quarter IV/2011. If the business does not improve, LAF is more likely to be delisted because its accumulated loss will exceed paid-up capital after the Company discloses the 2012 audited financial statements.

HOSE

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