Hoang Anh Gia Lai Joint Stock Company (HAG on HoSE) released a report on the trading results of its insider-related shares. Specifically, Doan Hoang Anh, daughter of Chairman of the Board of Directors Doan Nguyen Duc, registered to purchase 2 million HAG shares via matching orders.
Prior to the transaction, Ms. Doan Hoang owned 9 million HAG shares, representing a 0.85% stake. Following the transaction, her holdings increased to 11 million shares, equivalent to a 1.04% stake.
On the stock market, since the beginning of May 2024, HAG shares have traded in the range of VND 12,250 to VND 13,350 per share.
Mr. Doan Nguyen Duc, Chairman of the Board of Directors of HAGL
In another development, today (May 10th), HAGL held its 2024 Annual General Meeting in Ho Chi Minh City, featuring notable agenda items.
HAGL announced its 2024 business plan to the Annual General Meeting, targeting a 20% increase in revenue to VND 7,750 billion. Fruit trees accounted for the largest proportion (71%) and are expected to bring in VND 5,540 billion, while banana-eating pigs are projected to contribute VND 1,550 billion, or 20% of total revenue. Merchandise sales are estimated to generate VND 660 billion, making up 9% of the total.
This year, HAGL primarily focuses on investing in and expanding its fruit tree plantations, including adding 2,000 hectares of banana trees, increasing the area from 7,000 hectares to 9,000 hectares, and planting an additional 500 hectares of durian trees, expanding the area from 1,500 hectares to 2,000 hectares.
Despite planning for revenue growth, HAGL set a target for after-tax profit that is 26% lower than the 2023 performance, expected to reach VND 1,320 billion.
Regarding profit distribution, Hoang Anh Gia Lai proposed to the shareholders not to pay dividends for 2023 and 2024.
In terms of senior personnel matters, the company presented the resignation of Board of Directors member Nguyen Chi Thang and Supervisory Board member Le Hong Phong at the meeting. HAGL had previously received resignation letters from both individuals due to personal reasons.
On the other hand, the shareholders will elect one additional Board of Directors member and one Supervisory Board member as replacements. Both candidates are nominated by the Chairman of the Board of Directors, Doan Nguyen Duc, and do not hold any HAG shares.
