Recently, An Phat Holdings Corporation (HoSE: APH) has continuously recorded stock transfer and divestment transactions of key leaders. Accordingly, Mr. Pham Anh Duong, Chairman of the Board of Directors, has just announced the sale of 6.67 million APH shares out of a total of 11.87 million previously registered units.
After the above transaction, Mr. Duong reduced his ownership from 11.87 million shares (4.87%) to 5.2 million shares (2.13%). Immediately after that, Mr. Duong continued to register to sell the remaining shares. The transaction is expected to be carried out by order matching/negotiation method between October 1 and October 30.
Along with registering to sell all APH shares he is holding, Mr. Pham Anh Duong also submitted a resignation letter from the position of Chairman of the Board of Directors and resigned from the Board of Directors of An Phat Holdings for personal reasons.
In addition to Mr. Duong, many leaders of An Phat Holdings have also sold a large amount of shares recently. In particular, Mr. Pham Do Huy Cuong - Member of the Board of Directors and General Director of the company has completed the sale of 750,000 APH shares he owns, reducing his ownership to 0.46%. Ms. Tran Thi Tien - Vice Chairman of the Board of Directors and Deputy General Director also completed the sale of 750,000 shares, reducing her ownership ratio to 0.05%.
In addition to key leaders, Deputy General Director in charge of production Tran Thi Thoan and Deputy General Director in charge of finance Hoa Thi Thu Ha also sold the same amount of 500,000 APH shares, reducing their ownership to 0 and 625 shares at An Phat Holdings, respectively.
Notably, the simultaneous sale of APH shares by leaders comes as the company prepares to hold an extraordinary general meeting in 2024. An Phat Holdings announced the convening of an extraordinary general meeting of shareholders on October 9 at its headquarters in Hai Duong. At this meeting, the company's Board of Directors plans to submit to shareholders for approval a change in business lines; amendments and supplements to the charter and other contents.
In addition, An Phat Holdings' 2024 business plan has also been adjusted downward, with net revenue expected to decrease by more than 7% from the original plan of VND14,000 billion to VND13,000 billion. Profit after tax decreased by 10.5% from VND314 billion to VND281 billion.
Regarding the shareholder structure of An Phat Holdings, the 2024 semi-annual management report shows that among those related to Mr. Duong, only his younger brother, Mr. Pham Hoang Viet, owns 4.3 million shares, equivalent to 1.8% of capital at An Phat Holdings.
Vice Chairman of the Board of Directors Nguyen Le Trung holds 5.6 million shares, equivalent to 2.3% of capital; Mr. Nirav Sudhir Patel, Independent Member of the Board of Directors (resigned on May 29) holds 174,000 shares, accounting for 0.07% of capital; Deputy General Director Nguyen Le Thang Long holds 750 shares, an insignificant proportion. Other insiders and related parties do not own shares.
Previously, the company's listing prospectus announced that as of July 3, 2020, An Phat Holdings had a major shareholder, IGG USA Vietnam Co., Ltd., with an ownership ratio of 35.45%; KB Securities owned 9.62% of the preferred equity. Ms. Nguyen Thi Tien owned 1.02%.
In the market, due to the negative information above, APH stock price has continuously decreased recently. At the end of the session on September 27, this stock stopped at 6,310 VND/share. Compared to the end of July 2024, APH stock has decreased by more than 30%. The company's market capitalization has also decreased to 1,538.9 billion VND.
