HMC: Information about court judgment

Vnsteel - Ho Chi Minh City Metal Corporation was summoned by the People’s Court of Ho Chi Minh City to participate in the trial of the Nguyen Thanh Tai and his accomplices for “violation of regulations on management and use of State assets, causing losses and wastefulness”, as a person with related rights and obligations.

This case is related to the investment project at No.8 – 12 Le Duan, which was joined by Vnsteel - Ho Chi Minh City Metal Corporation in 2010 and transferred stake in Lavennue Investment Joint Stock Company to Kinh Do Investment Co., Ltd.

On October 01, 2020, Vnsteel - Ho Chi Minh City Metal Corporation received Judgment No.420/2020/HS-ST dated September 20, 2020 by the People’s Court of Ho Chi Minh City. Accordingly, Vnsteel - Ho Chi Minh City Metal Corporation must repay VND50 billion, which was gained from the stake transfer, to the State’s budget. At the same time, the Corporation has the right to contact a tax authority to re-account the paid corporate tax amount of VND12.5 billion.

HOSE

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>   REE: Notice of transaction of related institution (Platinum Victory) (13/10/2020)

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