Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, stock code: SBT) has just announced the Board of Directors' Resolution to elect Ms. Dang Huynh Uc My as Chairwoman of the Board of Directors from July 13, replacing Ms. Huynh Bich Ngoc.
Ms. Ngoc was elected as a member of the Board of Directors from July 12, 2019, for a term of 5 years, so her term has ended. From July 13, Ms. Ngoc is no longer a member of the Board of Directors and cannot hold the position of Chairman of the Board of Directors.
Mrs. My is the daughter of Mrs. Ngoc and Mr. Dang Van Thanh. Mrs. My is also known as the "sugar princess".
Before being elected as chairwoman, Ms. My held the position of Vice Chairwoman of TTC AgriS. Currently, Ms. My owns nearly 145 million SBT shares, equivalent to 19.02% of the company's capital.
In this enterprise, Mr. Truong Hong Quan (husband), Mr. Dang Hong Anh (Ms. My's brother) and Mr. Thanh do not own any shares.
In another development, before the announcement of holding the position of Chairman of TTC AgriS, Ms. My registered to sell 70 million SBT shares to restructure her investment portfolio, with the trading period from July 12 to August 10 by negotiation and/or order matching.
SBT stock fluctuations in the past 3 months Source: Fireant
If the sale is successful, Ms. My's ownership ratio at TTC AgriS will decrease to 9.84% (equivalent to 74.9 million SBT shares).
This sale registration took place in the context of SBT shares gradually recovering after the plunge in mid-April. Temporarily calculating with the closing price on July 12 of 12,350 VND/share, the estimated value of the above shares is nearly 865 billion VND.
Regarding the business situation at TTC AgriS, the consolidated financial report for the third quarter of the 2023-2024 fiscal year (from January 1 to March 31, 2024), this enterprise recorded net revenue of VND 6,159 billion and profit after tax of VND 187.5 billion, up 8% and 23% respectively over the same period.
By the end of the first quarter of 2024, the value of TTC AgriS's cash and cash equivalents portfolio increased by nearly VND 1,300 billion compared to the end of the second quarter of 2023, to VND 4,445 billion. Of which, cash equivalents (bank deposits, short-term investments...) accounted for 70.5%.
However, TTC AgriS's debt at the end of the first quarter increased by more than VND3,400 billion, to VND22,875 billion. The main reason was that short-term loans and financial lease debts increased by more than VND2,200 billion, to VND13,307 billion; long-term loans and financial lease debts increased by more than VND1,200 billion.
Source: https://nld.com.vn/ba-dang-huynh-uc-my-lam-chu-tich-hdqt-cong-ty-cp-thanh-thanh-cong-bien-hoa-196240714183921174.htm
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