Decision on continued trading suspension, Decision on continued trading restriction and Notice of stock status
(1) Decision on continued trading suspension on UPCoM
Following Decision No. 596/QD-SGDHN dated May 23 2023, HNX announces the continued trading suspension of ASA stock as follows:
- Reason for trading suspension: the company did not disclose the Audited Financial Statements for 2021, 2022, 2023. The company did not have nay remedy to overcome the reason for trading restriction according to Point d Section 1 Article 46 of Law on Securities
- Reason for continued trading suspension: The company is forced to delist because the company seriously violated information disclosure and according to the decision No.50/QD-UBCK dated 23/01/2022 of State Securities Commission on the delisting of 7,000,000 shares in a private placement to increase capital from VND 30 billion to VND 100 billion of ASA Joint Stock Company
- Applicable law(s): Point e, d, g Section 1 Article 36 of the Regulations attached to Decision No.34/QD-HDTV dated November 16, 2022 of the Vietnam Stock Exchange.
Within 15 days from the date the stock is under continued trading suspension as prescribed in Article 1 of this Decision, ASA must send a document to the HNX to explain the cause and provide a remedy.
This decision replaces Decision No.56/QD-SGDHN dated 13/02/2023.
(2) Decision on continued trading restriction on UPCoM
Following Decision No. 597/QD-SGDHN dated 23/05/2024, HNX announces the continued trading restriction of ASA stock as follows:
- Reason for continued trading restriction: the Company failed to convene the Annual General Meeting for the latest two consecutive years from the end of the fiscal year under Section 2 Article 139 of the Law on Enterprises
- Trading restriction: be traded on Friday weekly;
- Applicable laws: Point h Section 1 Article 34 of the Regulations on Organization and Management of the UPCoM Exchange attached to Decision No.34/QD-HDTV dated 16/11/2022.
Within 15 days from the date the stock is under continued trading restriction as prescribed in Article 1 of this Decision, ASA Joint Stock Company must send a document to the HNX to explain the cause and provide a remedy.
This decision replaces Decision No.679/QD-SGDHN dated 07/07/2023.
(3) Notice of stock status
On May 23, 2024, HNX announces the status of ASA Joint Stock Company’s shares (stock code: ASA) as follows:
- ASA shares are under continued trading suspension according to Decision No.596/QD-SGDHN dated 23/05/2024 due the company did not have any remedy to overcome the reason for trading restriction according to Point d Section 1 Article 46 of Law on Securities; The company is forced to delist because the company seriously violated information disclosure and according to the decision No.50/QD-UBCK dated 23/01/2022 of State Securities Commission on the delisting of 7,000,000 shares in a private placement to increase capital from VND 30 billion to VND 100 billion of ASA Joint Stock Company regulaiton as prescribed in Points e, d, g Section 1 Article 36 of the Regulations attached to Decision No.34/QD-HDTV dated November 16, 2022 of the Vietnam Stock Exchange.
- ASA shares are under continued trading restriction since 23/05/2024 according to Decision No.597/QD-SGDHN because the Company failed to convene the Annual General Meeting for the latest two consecutive years from the end of the fiscal year under Section 2 Article 139 of the Law on Enterprises; it belongs to the case of trading restriction as prescribed in Points h Section 1 Article 34 of the Regulations attached to Decision No.34/QD-HDTV dated November 16, 2022 of the Vietnam Stock Exchange. Trading restriction: it is only traded on Friday weekly when it is removed from trading suspension.