The Quirky Corporate Affair: Executives Resign en Masse, Only to Stay and Witness a 360% Surge in Stock Prices Over Two Months

The company witnessed an unprecedented event as eight of its leaders resigned simultaneously. This mass departure left a gaping hole in the organization's structure and a sense of turmoil and uncertainty. The challenge of filling these vacant positions and restoring stability fell upon the remaining employees, who had to rally together to navigate this unexpected crisis.

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Minh Khang Capital Trading Public has recently made headlines due to receiving eight resignations from its Board of Directors and Supervisory Board members, all at once. The resignations, effective from May 30, were attributed to personal reasons, impeding the completion of their duties.

Among those stepping down is Mr. Nguyen Tuan Thanh (born in 1979), the current Chairman of the Board. Other Board members include Phan Mai Anh Tai, Khau Minh Quan, Le Minh Tuan, and Nguyen Thi Thao Nhi.

Consequently, with these resignations, the company’s Board of Directors is left without any members.

However, according to a recent update in the governance report, only two Board members were relieved of their duties: Mr. Phan Mai Anh Tai and Mr. Khau Minh Quan.

The remaining three who had previously submitted their resignations retained their positions. Mr. Tran Cong Thanh and Mr. Duong Van Tinh were elected to fill the vacancies on the Board of Directors of Minh Khang Capital Trading Public.

Minh Khang CTP, formerly known as Thuong Phu JSC, was established in 2010 with an initial charter capital of 3 billion VND. Its primary focus was on the production, processing, and trading of various types of coffee. The company is recognized as one of the largest producers of green coffee beans in Vietnam and is gradually expanding into the field of exporting processed coffee beans.

Currently, Minh Khang CTP operates mainly in the production, processing, and trading of coffee, as well as in the construction materials and real estate businesses. The company has a charter capital of 121 billion VND, and its Chairman, Mr. Nguyen Tuan Thanh, is the sole major shareholder, holding 12.4% of the capital.

According to the audited financial statements for 2023, Minh Khang CTP has only three employees.

As of the trading session on September 18, Minh Khang CTP’s stock price reached 37,000 VND per share, marking a remarkable 360% increase in just two months.

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