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Accordingly, STK conducts the sale of over 1.04 million treasury shares, equivalent to 1.11% of the outstanding shares, to employees at a price of VND 20,000 per share – 28% lower than the afternoon market price on March 7, 2024 (VND 28,000 per share). The period for receiving money to buy shares is from March 6 to March 30, 2024.
| Compared to the beginning of the year, STK’s stock price has increased by nearly 9% |
The expected total proceeds from the sale of approximately VND 21 billion will be used to supplement the Company’s business capital. The shares offered for sale to employees will be restricted from transfer 100% in the first year from the end of the offering period. In the second year, 50% of the shares will be released.
After selling over 1.04 million treasury shares under the ESOP program, Soi The Ky will continue to offer for sale the remaining treasury shares (1.5 million shares), equivalent to 1.59% of the outstanding shares. The minimum offering price is VND 18,300 per share. The Company expects to raise at least VND 27 billion and will use it to contribute capital to subsidiary companies and/or supplement working capital. The implementation time is after approval by the State Securities Commission.
Earlier, on January 15, the Board of Directors of STK approved the private placement registration dossier. The Company plans to sell 13.5 million private placement shares to professional securities investors, with a minimum price of VND 18,300 per share and a maximum price of VND 60,000 per share.
The expected total proceeds from the offering range from VND 247 billion to VND 810 billion. Soi The Ky will use it to supplement working capital. These shares will be restricted from transfer for 1 year from the end of the offering period.
According to the published list, there will be 4 professional securities investors selected to purchase privately placed shares. Among them, two internal people, Chairman of the Board of Directors Dang My Linh registered to buy 7 million shares; General Director cum Vice Chairman of the Board of Directors Dang Trieu Hoa registered to buy 5.5 million shares.
*Soi The Ky wants to privately place 13.5 million shares
On March 28, the Annual General Meeting of Shareholders 2024 of STK is expected to be held at 242 Tran Binh Trong, District 5, Ho Chi Minh City, according to the list finalized on February 29, 2024. Looking back at 2023, the Company’s revenue reached VND 1,425 billion and net profit was over VND 87 billion, a decrease of 66% and 64% respectively compared to the previous year. This is also the lowest profit level in the past 7 years since 2017. Thus, the Company cannot achieve the set profit plan of VND 253 billion for 2023.
| STK’s Business Situation from 2016-2023 |
