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ASA: Decision on continued trading restriction on UPCoM and Notice of stock status Decision on continued trading restriction on UPCoM
Following Decision No. 795/QD-SGDHN dated July 09, 2024, HNX announces the continued trading restriction of ASA 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
- Trading restriction: be traded on Friday weekly
- Applicable law(s): 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.
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.597/QD-SGDHN dated May 23, 2024.
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Notice of stock status
On July 09, 2024, HNX announces the status of ASA Joint Stock Company’s shares (stock code: ASA) as follows:
- ASA shares are put under continued trading restriction according to Decision No.795/QD-SGDHN dated 09/07/2024 due to the reason(s) that 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 Audited financial statements 2023 for over 45 days as prescribed at 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.
- 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. HNX
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