On September 9, the Hanoi Stock Exchange (HNX) requested VNG to issue an official letter explaining the information related to VNG and Mr. Le Hong Minh - the company's founder.
After receiving the above information, VNG leaders announced an explanation of the positions of Mr. Le Hong Minh and Mr. Wong Kelly Hong as requested by HNX. Accordingly, VNG explained that Mr. Wong Kelly Hong is performing the assigned tasks from Mr. Le Hong Minh to support the management, ensure the operation of the company as well as protect the rights and interests of VNG shareholders.
“VNG has not received Mr. Le Hong Minh’s resignation letter. Therefore, Mr. Le Hong Minh is still the General Director and legal representative of VNG, in accordance with the provisions of the Enterprise Law and the Company Charter,” VNG’s official dispatch stated.
By regulation, public companies must disclose information about events that have a major impact on production, business activities or corporate governance.
However, VNG said that production and corporate governance activities are still "going on normally". VNG also said it has not received any official documents from government agencies related to the incident reported by the press.
VNG affirms that the company does not have enough basis to make information disclosure as prescribed in Circular 96. The company commits to seriously and fully perform its obligations as soon as events arise as prescribed.
Previously, on September 7, VNG also announced the appointment of Mr. Kelly Wong - Deputy General Director of VNG as acting General Director.
Immediately after the explanatory document was released, VNZ shares jumped sharply, "dyed purple" when closing the trading session on September 11, up 15% compared to the previous trading session, to 388,800 VND/share.
Not stopping there, in the trading session on September 12, this stock code continued to increase by 14.99% to VND 409,600/share, bringing the market capitalization to VND 11,770 billion.
Previously, VNZ shares witnessed 6 consecutive sessions of decline, pushing the market price down from 532,000 VND/share to 334,500 VND/share, including 2 sessions of decline of over 14% on September 9 and September 10.
