PXM: PXM faces delisting from HOSE

On April 01, 2013, the Hochiminh Stock Exchange (HOSE) issued Decision No.106/2013/QD-SGDHCM about putting PXM shares of Mientrung Petroleum Construction Joint Stock Company (PVC - MT) into the warning status because PVC - MT’s after-tax profit in 2012 was -VND109.65 billion and its undistributed after-tax profit until December 31, 2012 was -VND107.22 billion.

On August 29, 2013, HOSE received PVC – MT’s consolidated financial statements for the first six months of 2013 audited by Deloitte Vietnam Co., Ltd. Accordingly, PVC – MT’s after-tax profit for the first six months of 2013 continued to be -VND141.40 billion, and its undistributed profits until June 30, 2013 was -VND249.03 billion, while its paid-up charter capital at June 30, 2013 was VND150 billion. Therefore, at June 30, 2013, the total accumulated losses exceeded the paid-up capital of the Company. If after having the 2013 audited financial statements, PVC – MT’s total accumulated losses still exceed its paid-up capital, PXM shares will have to be delisted, based on Point dd - Clause 1 - Article 60 of Decree No.58/2012/ND-CP.

HOSE

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