7 Novaland bosses bought more than 17 million shares at preferential prices

(Dan Tri) - Novaland announced the offering of more than 17.2 million ESOP shares and the issuance of bonus shares to officers and employees. General Director Duong Van Bac, after 2 rounds, held 14.6 million shares.

Novaland Group (stock code: NVL) announced to continue offering more than 17.2 million shares in the employee stock option issuance program (ESOP) and issuing ESOP bonus shares to officers and employees.

Accordingly, Mr. Duong Van Bac, General Director, bought an additional 3.1 million ESOP shares at VND10,000/unit and received 3.1 million ESOP bonus shares.

Along with Mr. Bac, many other key officials of Novaland also participated in buying and receiving bonus shares in the distribution such as Ms. Tran Thi Thanh Van - Deputy General Director (more than 2.5 million shares), Mr. Cao Tran Duy Nam - Deputy General Director (more than 2.5 million shares)...

Previously, Novaland's general director also bought nearly 4.2 million ESOP shares at VND10,000/unit and received an equivalent number of bonus shares.

In total, in 2 phases, Mr. Bac acquired 14.6 million NVL shares, equivalent to 0.718% of capital.

Novaland explains the policy of issuing and offering ESOP shares to recognize the contributions of employees; attract and encourage long-term commitment of employees with capacity and experience to work at the company; create motivation for employees to contribute and enjoy the results. ESOP bonus shares have a limited transfer period.

At the close of trading today (October 7), NVL shares were priced at VND15,400/unit, down 23% from the one-year peak last August.

Novaland's ability to continue operating is doubted (Illustration: Investor).

In the first half of this year, Novaland incurred a loss of VND666 billion, with a negative operating cash flow of VND7,456 billion (negative VND4,127 billion in the same period last year). In addition, as of June 30, the group has not yet fulfilled a number of short-term debt obligations due related to loans, bonds and payables.

The auditors believe that these conditions and events may cast significant doubt on the group's ability to continue as a going concern. In such a case, the group may not be able to recover its assets and discharge its liabilities in the normal course of business for at least 12 months from the date of these interim consolidated financial statements.

Novaland's management explained that the company will have sufficient working capital for business operations and be able to meet obligations due in the next 12 months from the date of approval of the interim consolidated financial statements.

The group said it has negotiated with lenders and bondholders to restructure the principal and interest debts when they come due. The total amount is 14,484 billion VND. Creditors are still willing to negotiate on approving the extension and allowing the group time to fix it.

The Group also liquidated assets at an expected selling price of VND28,380 billion. At the same time, the enterprise is quickly completing the remaining procedures, actively preparing capital to implement project construction and expects to achieve the necessary legal milestones this year for the sales target in the next 12 months.

On the other hand, Novaland has been approved for a credit of VND15,050 billion through new credit contracts from banks and has disbursed VND4,640 billion since the credit was granted. The remaining credit limit will continue to be disbursed to implement the project in the next 12 months.

In particular, the group's board of directors believes that there is a basis for not having to pay VND6,707 billion in land rent and land use fees in the next 12 months, related to land use fees and land rent at the project in Ho Chi Minh City.

Source: https://dantri.com.vn/kinh-doanh/7-sep-novaland-mua-hon-17-trieu-co-phieu-voi-gia-uu-dai-20251007215551657.htm