Mrs. Nguyen Do Lang Seeks to Offload One Million CSC Shares

Mai Dung is the mother of Nguyen Do Hoang Lan, a board member of COTANA. Dung's husband, Nguyen Do Lang, is the founder of the Apec Group ecosystem, which has affiliations with several listed companies, including COTANA, Apec Securities (APS), IDJ Investment (IDJ), and Apec Investment (API).

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Cotana Group JSC (CSC on HNX) announces related-party transactions involving a member of its Board of Directors.

Specifically, Ms. Huynh Thi Mai Dung, mother of Ms. Nguyen Do Hoang Lan – a member of the Board of Directors, registered to sell one million CSC shares from August 29 to September 28, 2024.

Upon success, Ms. Dung will reduce her holdings from 4.68 million shares, or 12.51%, to over 3.68 million shares, representing 9.84% of CSC.

As of the market close on August 28, with the share price at VND 28,600, Ms. Dung could potentially earn nearly VND 27 billion from this transaction.

Previously, from July 24 to August 22, Ms. Dung registered to sell 500,000 CSC shares but only sold 300,000 shares due to unfavorable market conditions.

According to HNX data, Ms. Dung registered to sell one million CSC shares from August 28 to September 26, 2023, for personal investment purposes. However, due to market conditions, she only sold 39,000 shares during this period. Following this transaction, her ownership decreased to 5,126,669 shares, or 16.44%.

From October 4 to November 2, 2023, Ms. Dung registered to sell one CSC share but only sold 976,000 shares, reducing her holdings to 4,150,669 shares, or 13.31% of CSC’s capital.

Ms. Dung is the mother of Ms. Nguyen Do Hoang Lan, a member of Cotana’s Board of Directors. Her husband, Mr. Nguyen Do Lang, is the founder of the Apec Group ecosystem and is related to several listed companies, including Cotana, Apec Securities (APS), IDJ Investment (IDJ), and Apec Investment (API).

According to CSC’s semi-annual management report for 2024, Ms. Huynh Mai Dung held 4.98 million shares, or 13.34%; Mr. Nguyen Do Lang held 27,738 shares, or 0.07%, and their son, Mr. Nguyen Do Duc Lam, held 278,745 shares, or 0.7%. Meanwhile, the other three family members, including Ms. Nguyen Do Hoang Lan, did not hold any CSC shares.

According to the reviewed semi-annual financial statements for 2024, gross profit from sales and services decreased by VND 19.44 billion to VND 44.96 billion. Financial revenue decreased by VND 2.54 billion to VND 2.38 billion, while financial expenses increased by VND 1.1 billion to VND 5.75 billion. Selling expenses increased by VND 88 million to VND 10.3 billion, and management expenses decreased by VND 3.1 billion to VND 15.5 billion. As a result, post-tax profit decreased by nearly VND 4.6 billion to VND 4.63 billion. Consequently, undistributed post-tax profits also decreased significantly from VND 254 billion to VND 180 billion.

On June 28, 2023, the Hanoi Police Department’s Investigation Agency announced the decision to initiate a criminal case for stock manipulation involving Asia-Pacific Securities Joint Stock Company, Asia-Pacific Investment Joint Stock Company, and IDJ Vietnam Joint Stock Company.

  1. Nguyen Do Lang, DOB: 1974, address: 12AT3 Nam Thang Long Urban Area, Dong Ngac Ward, Bac Tu Liem District, Hanoi – General Director of Asia-Pacific Securities Joint Stock Company.
  2. Pham Duy Hung, DOB: 1979, address: No. 14 Q27, lane 136 Nguyen An Ninh, Truong Dinh Ward, Hoang Mai District, Hanoi – Chairman of the Board of Directors of Asia-Pacific Securities Joint Stock Company.
  3. Huynh Thi Mai Dung, DOB: 1975, address: 12AT3 Nam Thang Long Urban Area, Dong Ngac Ward, Bac Tu Liem District, Hanoi (wife of Nguyen Do Lang)
  4. Nguyen Thi Thanh, DOB: 1981, address: No. 29/267 Bo De, Bo De Ward, Long Bien District, Hanoi – Chief Accountant of Asia-Pacific Securities Joint Stock Company.
  5. Pham Thi Duc Viet, DOB: 1982, address: P807, Tower N01 T5 Ngoai Giao Doan, Xuan Tao Ward, Bac Tu Liem District, Hanoi – Deputy Head of Customer Service Department of Asia-Pacific Securities Joint Stock Company.
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