FLC Group has announced the resignation of Ms. Tran Thi Huong from her executive positions within the group. According to the resolution passed by the Board of Directors (BOD), Ms. Huong has stepped down from her role as Executive Vice President and Head of Administration, effective August 22.
The BOD will proceed with the necessary procedures to present Ms. Huong’s resignation from her position as a member of the BOD to the next general meeting of shareholders for approval.
Ms. Huong at the time of her appointment as Executive Vice President of FLC Group.
FLC recently convened an extraordinary general meeting of shareholders, with the list of attending shareholders to be finalized by September 12. The meeting date and venue have not yet been announced.
The agenda for the meeting includes the dismissal and election of members of the BOD and Supervisory Board, amendments to the regulations governing the operations of the BOD and Supervisory Board, among other items. Notably, FLC has not yet held its annual general meeting of shareholders for 2024.
At the extraordinary general meeting held in February, FLC elected Mr. Le Tien Dung and Mr. Ngo Dang Hoang Anh to the BOD. Additionally, the company decided to relocate its headquarters to the 5th floor of FLC Landmark Tower, Hanoi.
As reported at the February meeting, FLC’s total asset value was estimated at over VND 21 trillion, a decrease of approximately 42% from the figure of VND 36,216 billion at the end of Q2/2022. The group has also downsized its workforce by 60%, restructured and merged departments, and established a new business and strategy division, along with an information technology department.
For 2024, the group aims to generate revenue of over VND 1,187 billion from its real estate business and VND 1,213 billion from its tourism and resort business, with profits sufficient to maintain operations and fulfill commitments to stakeholders.
Following a two-week trial and deliberation, the Hanoi People’s Court sentenced 50 defendants in the case of “Fraudulent appropriation of property; Stock market manipulation; Abuse of position and power while on duty; and Intentional disclosure of false information or concealment of information in securities activities” involving FLC Group. The verdicts were announced on August 5.
Mr. Trinh Van Quyet, former Chairman of the FLC Group’s BOD, was sentenced to 18 years in prison for “Fraudulent appropriation of property” and 3 years for “Stock market manipulation.” The court handed down a combined sentence of 21 years in prison.
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