## Insider Trading Violations: Mrs. Tran Thi Thu Fined VND 200 Million
On November 5, 2021, Mrs. Tran Thi Thu purchased 25,200 TTZ shares, crossing a threshold of 1.9 million TTZ shares held jointly with her husband, Mr. Huynh Van Quang. This transaction represented 25.26% of the company’s voting shares and triggered a mandatory public acquisition offer.
Subsequently, on March 15, 2022, Mrs. Thu acquired an additional 17,400 TTZ shares, bringing the total held by her and her related party (Mr. Quang) to over 1.9 million TTZ shares, or 25.1% of the company’s voting shares. However, they failed to register a public takeover bid with the SSC.
For these violations, Mrs. Thu was fined VND 137.5 million.
Additionally, on May 21, 2021, Mrs. Thu’s purchase of 54,900 TTZ shares took her holdings above the 5% disclosure threshold. However, the Hanoi Stock Exchange (HNX) only received her report of becoming a major shareholder on June 18, 2021. This delay in reporting resulted in a fine of VND 30 million.
Furthermore, between May 25, 2021, and November 4, 2022, Mrs. Thu repeatedly bought and sold TTZ shares, causing her ownership to cross the 1% threshold multiple times without proper reporting to the HNX. She was fined an additional VND 32.5 million for these infractions.
In total, Mrs. Thu was penalized VND 200 million for various administrative violations related to securities and the securities market.
As a corrective measure, Mrs. Thu is required to relinquish her voting rights on the shares acquired through the violation and to sell a portion of her holdings to reduce her ownership below the mandatory public offer threshold within six months from the effective date of this decision.
It is worth noting that in February 2024, the SSC had also imposed a fine of VND 125 million on TTZ for violations related to information disclosure.
As of December 31, 2023, Mrs. Tran Thi Thu was the largest shareholder of TTZ, holding 20.76% of the company’s capital, while her husband, Mr. Huynh Van Quang, held 10.39%. There have been no further announcements regarding their TTZ share transactions since then. Mr. Quang currently serves as the Chairman of the Board of Directors of TTZ.
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Mrs. Tran Thi Thu’s Reported Transactions over the Years
Source: VietstockFinance
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