|
Novaland’s Board of Directors at the 2025 Extraordinary General Meeting
|
Issuing nearly 320 million shares to exchange for a debt of over VND 8,719 billion
Specifically, the General Meeting approved the issuance of over 168 million shares in private placement at a price of VND 15,747 per share to exchange for a total debt value of over VND 2,645 billion belonging to 3 creditors: NovaGroup (VND 2,527 billion), Diamond Properties (VND 111.7 billion), and Ms. Hoang Thu Chau (VND 6.7 billion). Accordingly, the number of shares allocated are 160.5 million shares to NovaGroup, 7.1 million shares to Diamond Properties, and 423,977 shares to Ms. Chau. The issuance is expected to be carried out in the 4th quarter of 2025 – the 1st quarter of 2026, after obtaining approval from the State Securities Commission.
This is the amount that NVL has to pay to the 3 creditors who mortgaged their shares for secured loans, and these creditors have reached a debt conversion agreement with Novaland.
The General Meeting also approved the plan to issue nearly 151.9 million shares at an issuance price of VND 40,000 per share to exchange for the entire principal debt of 13 bond codes. These bonds were issued in 2021 and 2022, with maturities mainly in 2023-2025, with a total outstanding principal amount of VND 6,074 billion. Regarding a more detailed plan, Novaland will negotiate with the bondholders, and the implementation is expected to take place in 2026 after obtaining approval from the State Securities Commission.
This is the outstanding principal amount of private placement bonds that has been pending since 2023 due to difficult business conditions and pressure in recent years. As a result, Novaland has not been able to fulfill its commitments to the bondholders.
When the additional share issuance plans are approved and successfully implemented, Novaland’s charter capital is expected to increase to nearly VND 22,700 billion, with the ratio of the number of shares issued to the total number of circulating shares at 16.4%. According to Novaland, in the short term, the issuance of additional shares will cause dilution for existing shareholders, but this is a necessary step for the Company to restructure, reduce cash flow pressure, improve financial safety ratios, and ensure the interests of related parties. Novaland’s leadership also affirmed that they would always maintain transparency and ensure fairness for all investors.
After these two issuance plans, the total ownership ratio of the major shareholder group (NovaGroup and Diamond Properties) and the family of Mr. Bui Thanh Nhon is expected to reach 39.59%.
|
Overview of Novaland’s 2025 Extraordinary General Meeting
|
Borrowing up to VND 5,000 billion with a convertible loan
In addition to the above two share issuance plans, the General Meeting approved a plan to borrow with a maximum limit of VND 5,000 billion, with a term of 5 years from the disbursement date and repayment upon maturity.
The lender has the right to request the conversion of part or all of the principal debt of the loan into ordinary shares of the Company. The conversion price is determined based on market reference and balancing the interests of the parties. The Company will negotiate with the lender to ensure that the conversion price is not lower than the minimum level allowed by the General Meeting of Shareholders, which is 115% multiplied by the closing price of NVL shares on the 5th trading day before and including the last disbursement date. A more detailed plan will be submitted to the Board of Directors for approval in accordance with their authority for implementation in the near future.
The General Meeting also approved the resignation of Mr. Doan Minh Truong due to personal reasons and elected Ms. Pham Thi Hong Nhung as a new member of the Board of Directors.
|
Ms. Pham Thi Hong Nhung – New Member of the Board of Directors introduces herself at the General Meeting
|
– 17:07 07/08/2025
“SJ Group Successfully Issues Over 182 Million Shares as Dividend and Bonus Payout”
On July 31, 2025, SJ Group concluded its distribution of over 182.6 million shares as dividends to its 2,302 shareholders. This issuance of shares has increased the total number of outstanding shares to nearly 297.5 million.
“Novaland Proposes a Debt Exchange Offer for 13 Bond Codes”
Novaland is seeking to restructure a total of 13 bond codes, issued between 2021 and 2023, with an outstanding principal value of VND 6,074 billion.
“Novaland Proposes Extraordinary General Meeting to Discuss the Issuance of Over 168 Million Private Placement Shares to Settle Debt”
The Board of Directors of No Va Real Estate Investment Group Joint Stock Company (HOSE: NVL) has unveiled two proposals for private placements to be discussed at the upcoming extraordinary general meeting on August 7. The proposals involve issuing shares to swap debt and execute a convertible loan facility.
Unveiling the Salary Secrets of Real Estate Executives in the First Half of 2025
Mr. Duong Van Bac, who took on the role of CEO of Novaland in November 2024, earned a salary of 2.4 billion VND in the first half of 2025.
The Ultimate Cash Cow: Novaland’s Imminent Windfall of 8,000 Billion VND
Novaland Group is set to issue over 168 million private shares to facilitate a debt swap totaling VND 2,645 billion and to execute a convertible loan with a cap of VND 5,000 billion.
