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The reason for the return of the file, according to the Ho Chi Minh City Institute of Civil Engineering, asked the CQĐT to conclude on the determination of the value of the shares, thus determining the amount lost due to the transfer of 9 million shares.
In particular, the Ho Chi Minh City Civil Engineering Institute believes that CQDT should continue to investigate and clarify whether the Nguyen Kim Company’s complicit role in the case against the purchase of 9 million Sadeco shares.
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Mr. Tat Thanh Cang’s case will be handled strictly, there is no restricted area |
Incorrect in the case of the issue of 9 million shares to Nguyen Kim Company
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CQĐT has determined that the defendants in this case have made mistakes because they are related to the issue of 9 million shares to Nguyen Kim Company. Specifically, in 2015, when approving the restructuring project, the Ho Chi Minh City People’s Committee asked IPC not to reduce the capital ownership rate any further, but IPC “ignored” this request and the mission “sold” the rights to vote. At Sadeco for Nguyen Kim Company is still going.
Specifically, on November 10, 2016, Nguyen Kim Company submitted a written proposal to participate in the purchase of shares to become a strategic shareholder of Sadeco. On April 5, 2017, Te Tri Dung signed Document No. 471 / IPC.17 to submit to the Ho Chi Minh City People’s Committee for approval a plan to issue 9 million shares to increase Sadeco’s share capital in the form issuance of shares for strategic shareholders. is Nguyen Kim Company; The expected issue price is 40,000 VND / share. In particular, the valuation basis is based on the valuation report of HSC Company.
On May 18, 2017, the City Party Committee Office issued Document No. 495 to convey the direction of the Permanent Undersecretary of the City Party Committee Tat Thanh Cang “to approve the policy of issuing shares to the strategic shareholders to increase capital. ”.
On August 10, 2017, Te Tri Dung and Ho Thi Thanh Phuc signed a memorandum of understanding with Nguyen Kim Company, proactively stating that the number of shares to be issued is 9 million shares, priced at 40,000 VND / action. Any other negotiation. . On October 19, 2017, Nguyen Kim Company paid VND 360 billion to Sadeco to purchase 9 million of the aforementioned shares.
Following this incident, the proportion of state capital ownership in Sadeco’s group of state shareholders decreased from 62.8% to 41%; in which the IPC ownership index decreased from 44% to 28.8%. In contrast, Nguyen Kim Company has a dominant share in Sadeco with more than 54% of its share capital.
According to CQĐT, the strategic shareholder selection process is not fully reported, transparently, the actual capacity of the strategic partner was incorrectly assessed, the issue price of the shares for strategic shareholders is not true. The assets and potentials of the company, without legal basis, do not guarantee the interests of Sadeco as well as the existing shareholders …
Failure to comply with the leadership of the Ho Chi Minh City People’s Committee and failure to comply with the law on the issue of shares to Nguyen Kim Company has resulted in damages to all shareholders of Sadeco Company. Provisionally more than 940 billion VND, of whose loss and damage to the capital of the Popular Committee of the City (44%) is 413.776 billion VND.
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Prosecute Mr. Tat Thanh Cang |
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