Ho Chi Minh City Securities Joint Stock Company (HOSE: APG) has announced the resignation of Mr. Huynh Duc Hung from his positions as Independent Board Member and Chairman of the Audit Committee, citing personal reasons.
Mr. Hung was elected to the APG Board of Directors at the 2024 Annual General Meeting of Shareholders held in August 2024.
Following Mr. Hung’s resignation, APG Securities announced its plan to seek shareholder approval through a written consent process. The record date for determining the shareholders’ eligibility to participate in this process is set as June 12th. The matters to be voted on include amendments to the company’s charter and the Board of Directors’ regulations, as well as changes to the Board of Directors’ membership.
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In the near future, APG Securities is expected to undergo a change in its shareholder structure. Specifically, foreign shareholder Pando I Investment PTE. LTD has registered to purchase 40 million APG shares through matching and negotiated transactions between May 20, 2025, and June 18, 2025.
If the transaction is successfully completed, this shareholder will increase their ownership from 11.74 million APG shares, representing 5.25% of the charter capital, to 51.74 million shares, or 23.14% of APG’s charter capital.
It is worth noting that Mr. Ong Tee Chun, a member of APG Securities’ Board of Directors, currently serves as the Director of Pando I Investment PTE. LTD.
On the other hand, Mr. Nguyen Ho Hung, Chairman of APG Securities’ Board of Directors, has registered to sell 6 million APG shares. If the sale is successful, the Chairman will reduce his ownership from nearly 6.8 million APG shares (3.03%) to approximately 800,000 shares (0.35%).
In another development, on May 15, 2025, APG Securities received Decision No. 93/QD-XPHC from the State Securities Commission (SSC) regarding administrative sanctions.
According to this decision, APG was fined VND 60 million for violating the regulations on information disclosure, as stipulated in Clause 3, Article 42 of Decree No. 156/2020/ND-CP dated December 31, 2020, of the Government on sanctioning administrative violations in the field of securities and the securities market.
Additionally, APG Securities was fined VND 60 million for violations relating to reporting regulations, as stipulated in Clause 2, Article 43 of Decree No. 156/2020/ND-CP.
The total fine imposed on the company amounts to VND 120 million.
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