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CLG: Decision on being put under trading restriction, trading suspension & Notice of stock status Decision on trading restriction
Following Decision No. 572/QD-SGDHN dated 23/05/2024, HNX announces the continued trading restriction of CLG stock as follows:
- Reason for continued trading restriction: the company did not organize Annual General Meeting of Shareholders in the most recent 02 fiscal years according to Clause 2, Article 139 of the Enterprise Law; the company was late in submitting Review financial statements for 2021, 2022 and 2023 for over 45 days; it had negative owner equity in Review Financial Statement 2020; the auditor gave disclaimer opinion on Audited Financial statement 2020; the company suspended their operations for more than 01 year;
- Trading restriction: be traded on Friday weekly when it is removed from trading suspension
- Applicable laws: Points a, b, c, d, 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, Petrovietnam-Nghe An Construction Joint Stock Corporation must send a document to the HNX to explain the cause and provide a remedy.
This decision replaces Decision No.1028/QD-SGDHN dated 05/10/2023.
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Decision on continued trading suspension on UPCoM
Following Decision No. 571/QD-SGDHN dated May 23 2023, HNX announces the continued trading suspension of CLG stock as follows:
- Reason for trading suspension: the company did not disclose the Audited Financial Statement for 2021, 2022, 2023
- Reason for continued trading suspension: 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
- Effective date: 03/06/2024
- Applicable law(s): Points e 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, CLG must send a document to the HNX to explain the cause and provide a remedy.
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Notice of stock status
On May 23, 2024, HNX announces the status of Cotec Invesment & Land-House Development JSC's shares (stock code: CLG) as follows:
- CLG shares was put under trading suspension according to Decision No.571/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, as prescribed in Points e Section 1 Article 36 of the Regulations attached to Decision No.34/QD-HDTV dated November 16, 2022 of the Vietnam Stock Exchange.
- CLG shares are put under trading restriction according to Decision No.572/QD-SGDHN dated 23/05/2024 due to the company did not organize annual general meeting of shareholders in the most recent 02 fiscal years within the time limit from the end of the fiscal years according to Clause 2, Article 139 of Enterprise Law, as prescribed at Point a, b, c, h Clause 1 Article 34 of the Regulations on Registration and Trading management of Unlisted securities as attached to Decision No. 34/QD-HDTV dated November 16, 2022 by the Vietnam Stock Exchange. It is only traded on Friday when it is put out of trading suspension HNX
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