Investment and Construction JSC 40 (code: L40) recently announced that June 3 will be the record date for shareholders to receive bonus shares, with a ratio of 200%. (Shareholders owning 1 share will receive 1 right, and 1 right will receive 2 new shares).
With 3.6 million shares currently in circulation, L40 plans to issue an additional 7.2 million bonus shares. All newly issued shares will not be restricted from transfer. Following this issuance, the company’s charter capital will increase from VND 36 billion to VND 108 billion.
Prior to this, the company experienced several changes in its senior management team. In early March 2025, the Extraordinary General Meeting of Shareholders of L40 approved the resignation of all 5 members of the Board of Directors, including Mr. Le Dinh Hien (Chairman), Mr. Ha Huy Khanh, Mr. Anselm Wong Siew Shen J.P., Mr. Ngo Gia Tien, and Mr. Tran Bac Viet. The meeting also decided to transfer the work of General Director Nguyen Van Son, with all decisions taking effect from March 7, 2025.
Meanwhile, L40 also elected 5 members to the Board of Management for the term 2021 – 2025, including Mr. Do Tan Cuong (Chairman), Mr. Bui Do Linh, Mr. Tran Viet Thang, Mr. Do Tan Vu, and Mr. Dinh Van Xuan. Mr. Dinh Van Xuan will also take on the role of General Director of L40, effective from March 7, 2025. Among the new leaders, Mr. Tran Viet Thang holds 18,800 L40 shares (0.52% of capital).
According to the biographies of the new leaders, Mr. Do Tan Cuong (born in 1982) is the older brother of Mr. Do Tan Vu (born in 1984).
In terms of financial performance for the first quarter of 2025, L40 recorded revenue of over VND 40 billion. However, due to high cost of goods sold, accounting for more than 99%, net profit decreased by 96% compared to the same period last year, reaching only VND 14 million. Compared to the 2025 plan of VND 301 billion in revenue and VND 35 billion in after-tax profit, L40 has achieved less than 1% of its profit target after the first quarter.
On the stock exchange, L40’s share price is currently at VND 53,000 per share, which is also the historical peak for this stock.
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