The Board of Directors of HAGL Agrico (HOSE: HAG) has approved a plan to issue shares to partially settle the debt on “Bonds issued by Hoang Anh Gia Lai Joint Stock Company on December 30, 2016 – Group B”.
The total debt of these bonds amounts to VND 2,000 billion in principal and VND 1,937 billion in interest as of December 31, 2024.
Specifically: based on the debt restructuring proposal from the holders of 100% of Group B Bonds, the Board of Directors approved the plan to settle the bond debt obligations, whereby the Board will propose to the General Meeting of Shareholders to approve the issuance of shares to partially settle the debt on “Bonds issued by Hoang Anh Gia Lai Joint Stock Company on December 30, 2016, Group B”
Accordingly, HAGL plans to issue 210 million shares to settle the debt of VND 2,520 billion, valuing each HAG share at VND 12,000 for the creditors.
On June 3, HAG shares closed 4.74% lower at VND 13,050, temporarily valuing the exchange rate at VND 1,050 per share lower than the market price.
According to HAG, the basis for this valuation is the book value as of December 31, 2024, at VND 8,819 per share, and the average reference price over the past 90 trading sessions (from January 10 to May 28, 2025) at VND 12,445 per share.
The list of HAGL’s creditors includes 1 company and 7 individuals: Investment Consulting Company Huong Viet (VND 720.7 billion), Le Minh Tam (VND 395.6 billion), Nguyen Thi Dao (VND 83.2 billion), Phan Cong Danh (60.5 billion dong), Nguyen Anh Thao (VND 60.5 billion), Ho Phuc Truong (VND 599.8 billion), and Nguyen Duc Trung (VND 599.8 billion).
After the issuance, this group of creditors will hold 18.83% of HAGL’s capital.
In addition, HAGL also submitted to the shareholders for approval the production – business and investment plan for 2025. Accordingly, HAG expects to achieve net revenue of VND 5,514 billion – in which the fruit segment accounts for the largest proportion, up to 76% of total revenue; followed by revenue from pig farming at 19%, and the remaining 5% from other goods. The expected profit after tax is VND 1,114 billion.
In terms of investment plan, HAGL does not expect to develop any new projects in the next year but will focus on maintaining the stability of the existing fruit garden area, including banana, durian, and macadamia.
Regarding the pig farming segment, the company will not expand the pigsty but will prioritize improving the efficiency of management and operation of the existing system to optimize resources and increase productivity.
Moreover, the company plans to issue 12 million bonus shares to employees, accounting for 1.135% of the total outstanding shares, including: members of the Board of Directors; employees who have signed labor contracts with the company; subsidiaries that have been with the company for at least 10 years; and subsidiaries at the time of the list preparation. These shares will be transferable after 3 years, with a 10% transfer limit, and fully transferable after 5 years.
The expected timeline for this issuance is in 2026 or another suitable time as decided by the Board of Directors and after notification from the SSC. The issuance fund will be sourced from surplus capital/or undistributed profit after tax, and other funds in the audited financial statements for the year 2025.
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