Mr. Nguyen Quang Nghia (the man wearing a mask) debuts at TDH‘s 2023 AGM. Photo: Thuong Ngoc
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If the transaction is successful, Mr. Nghia’s ownership in TDH will decrease significantly from 18.4% to 0.05%, meaning he will no longer be a major shareholder of the Company. The reason given for the sale is financial needs.
Based on TDH‘s closing share price on December 4, 2024 (VND 2,150/share), the value of the transaction by the Chairman of TDH could exceed VND 44 billion. It is known that the current TDH share price is at its lowest level since its listing (in 2006) up to now.
| TDH share price movement from 2023 up to now |
However, compared to the amount spent to buy more than 21 million shares (18.7%) in June 2023 (estimated at VND 4,340/share), Mr. Nghia lost VND 2,190/share after nearly 1.5 years of holding TDH shares. Multiplying by the expected number of shares to be sold, the loss could amount to more than VND 45 billion.
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Mr. Nghia’s TDH share transactions from June 2023 up to now
Compiled by the author. Yellow: expected transaction
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Mr. Nghia became the largest shareholder of TDH after buying more than 21 million shares in 3 consecutive sessions from June 16-20, 2023, holding 18.7%. Not long after, at the 2023 Annual General Meeting of Shareholders of TDH in August 2023, he joined the Board of Directors of the Company and has held the position of Chairman until now.
The Chairman of TDH‘s move to divest comes after the Company has had a major personnel change. Specifically, on November 28, 2024, Mr. Nguyen Hai Long submitted his resignation from the position of General Director for personal reasons after about 7.5 months of working. He is the second CEO to resign after Mr. Nghia became Chairman of TDH, the previous one being Mr. Dam Manh Cuong.
In the announcement on November 29, 2024, after no longer being the General Director, Mr. Long was appointed as Senior Advisor to the Board of Directors, Chairman of the Board, and General Director of the Company.
Meanwhile, Ms. Tran Thi Lien replaced Mr. Long as the new General Director, effective from November 29, 2024, until the end of the term of the Board of Directors (2020-2025) or until another decision is made.
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