Vietnam Seafood Corporation (Seaprodex, Stock Code: SEA, UPCoM) has announced the resignation of two Board of Directors members and one member of the Supervisory Board.
The resigning members are Board of Directors members Do Thi Phuong Lan and Le Trung Hieu, along with Supervisory Board member Pham Thi Lan Huong.
Their resignation letters clearly state their intention to step down effective September 12th, pending approval at the next shareholders’ meeting.
All three individuals represent Red Capital Investment Fund Management JSC. As of June 30, 2025, Do Thi Phuong Lan serves as a Board of Directors member and CEO of Red Capital.
Le Trung Hieu holds the position of Strategic Investment Director at Red Capital, boasting 15 years of experience at Mapletree, Deloitte, and PwC, specializing in investment, asset management, and capital markets.
Pham Thi Lan Huong serves as the Project Legal Manager at Red Capital, with over 10 years of experience in real estate, M&A, and project development.
Their resignations follow Red Capital’s complete divestment of 18 million SEA shares, representing 14.4% of Seaprodex’s charter capital, through negotiated transactions between August 14th and 22nd. Following this transaction, Red Capital no longer holds any SEA shares and has officially exited the seafood company.
Red Capital acquired the 18 million SEA shares on August 6, 2024, when the stock closed at VND 28,710 per share.
During the August 14th-22nd period, the average SEA share price was VND 42,185. Red Capital is estimated to have garnered approximately VND 760 billion from this divestment.
Seaprodex headquarters at the prime location of 2-4-6 Dong Khoi, Saigon Ward, Ho Chi Minh City
Concurrent with Red Capital’s complete divestment, Seaprodex witnessed changes in its shareholder structure. Gelex Group JSC (Stock Code: GEX, HoSE) also sold 8.88 million SEA shares on August 22nd. This reduced their holdings from 11.89 million shares (9.52%) to 3.02 million shares (2.42%), removing them from the list of major shareholders.
Conversely, SSG Group emerged as a new major shareholder of Seaprodex after acquiring 14.9 million shares on August 22nd.
Following this transaction, SSG Group’s ownership increased from zero to 11.92% of Seaprodex’s charter capital.
On August 22nd, 11,400 SEA shares were traded on the order book, while 14.9 million shares were transacted through negotiated deals, totaling VND 507.16 billion, equivalent to VND 34,000 per share.
Gelex is estimated to have earned VND 300 billion from its partial divestment, while SSG Group invested a similar amount to become a major shareholder of Seaprodex.
Aside from the aforementioned shareholders, as of June 30, 2025, the largest shareholder of Seaprodex is the State Capital Investment Corporation (SCIC), holding 63.38% of the company’s charter capital.
