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ASA: Decision on continued trading suspension, Decision on continued trading restriction and Notice of stock status Decision on continued trading suspension, Decision on continued trading restriction and Notice of stock status
(1) Decision on continued trading suspension on UPCoM
Following Decision No. 596/QD-SGDHN dated May 23 2023, HNX announces the continued trading suspension of ASA stock as follows:
- Reason for trading suspension: the company did not disclose the Audited Financial Statements for 2021, 2022, 2023. The company did not have nay remedy to overcome the reason for trading restriction according to Point d Section 1 Article 46 of Law on Securities
- Reason for continued trading suspension: The company is forced to delist because the company seriously violated information disclosure and according to the decision No.50/QD-UBCK dated 23/01/2022 of State Securities Commission on the delisting of 7,000,000 shares in a private placement to increase capital from VND 30 billion to VND 100 billion of ASA Joint Stock Company
- Applicable law(s): Point e, d, g Section 1 Article 36 of the Regulations attached to Decision No.34/QD-HDTV dated November 16, 2022 of the Vietnam Stock Exchange.
Within 15 days from the date the stock is under continued trading suspension as prescribed in Article 1 of this Decision, ASA must send a document to the HNX to explain the cause and provide a remedy.
This decision replaces Decision No.56/QD-SGDHN dated 13/02/2023.
(2) Decision on continued trading restriction on UPCoM
Following Decision No. 597/QD-SGDHN dated 23/05/2024, HNX announces the continued trading restriction of ASA stock as follows:
- Reason for continued trading restriction: the Company failed to convene the Annual General Meeting for the latest two consecutive years from the end of the fiscal year under Section 2 Article 139 of the Law on Enterprises
- Trading restriction: be traded on Friday weekly;
- Applicable laws: Point h Section 1 Article 34 of the Regulations on Organization and Management of the UPCoM Exchange attached to Decision No.34/QD-HDTV dated 16/11/2022.
Within 15 days from the date the stock is under continued trading restriction as prescribed in Article 1 of this Decision, ASA Joint Stock Company must send a document to the HNX to explain the cause and provide a remedy.
This decision replaces Decision No.679/QD-SGDHN dated 07/07/2023.
(3) Notice of stock status
On May 23, 2024, HNX announces the status of ASA Joint Stock Company’s shares (stock code: ASA) as follows:
- ASA shares are under continued trading suspension according to Decision No.596/QD-SGDHN dated 23/05/2024 due the company did not have any remedy to overcome the reason for trading restriction according to Point d Section 1 Article 46 of Law on Securities; The company is forced to delist because the company seriously violated information disclosure and according to the decision No.50/QD-UBCK dated 23/01/2022 of State Securities Commission on the delisting of 7,000,000 shares in a private placement to increase capital from VND 30 billion to VND 100 billion of ASA Joint Stock Company regulaiton as prescribed in Points e, d, g Section 1 Article 36 of the Regulations attached to Decision No.34/QD-HDTV dated November 16, 2022 of the Vietnam Stock Exchange.
- ASA shares are under continued trading restriction since 23/05/2024 according to Decision No.597/QD-SGDHN because the Company failed to convene the Annual General Meeting for the latest two consecutive years from the end of the fiscal year under Section 2 Article 139 of the Law on Enterprises; it belongs to the case of trading restriction as prescribed in Points h Section 1 Article 34 of the Regulations attached to Decision No.34/QD-HDTV dated November 16, 2022 of the Vietnam Stock Exchange. Trading restriction: it is only traded on Friday weekly when it is removed from trading suspension. HNX
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