Tasco Chairman registered to receive transfer, owning 25% of shares

Accordingly, VII Holding Joint Stock Company, with Mr. Vu Dinh Do as Chairman of the Board of Directors and owning 65% of the charter capital, will receive the transfer of part or all of Tasco shares.

Chairman of Tasco Board of Directors Vu Dinh Do

This is the number of shares that shareholders own from the exchange issuance from SVC Holdings shares (now Tasco Auto) in 2023 after being approved by the general meeting of shareholders.

VII Holding Joint Stock Company commits to continue holding Tasco shares according to the terms and conditions of the issuance of convertible shares, including a commitment to restrict transfers for up to 5 years from the date of completion of the transaction to exchange shares of SVC Holdings Joint Stock Company with shares of Tasco Joint Stock Company (August 31, 2023).

At the same time, the Board of Directors also submitted to the General Meeting of Shareholders for approval the exemption of public tender offer for VII Holding Company and related parties according to the provisions of law.

These contents will be put to vote at the Tasco 2024 Annual General Meeting of Shareholders taking place on May 31.

Recently, Tasco has been restructuring to focus on core business segments including Tasco Auto - VETC Non-Stop Toll Collection - Tasco Insurance. Tasco is in the key stage of building a foundation for sustainable development, preparing for strategic changes.

Tasco has charter capital of VND 8,925 billion, total assets of VND 26,749 billion, combined revenue of VND 33,189 billion, consolidated revenue of VND 10,995 billion in 2023.

Of which, Tasco Auto is operating a network of 86 car dealerships, accounting for 13.3% of the car distribution market share in Vietnam (VAMA). VETC is the investor of the non-stop toll collection system, accounting for over 70% of the market share nationwide.

Tasco Insurance is oriented to provide only motor vehicle insurance products. In addition, Tasco still maintains other business activities including BOT and exploitation and operation of existing real estate development.

Mr. Vu Dinh Do (42 years old, from Bac Giang ) has a bachelor's degree in economics. He used to be an auditor for KPMG in Vietnam and Singapore.

Source: https://thanhnien.vn/chu-tich-tasco-dang-ky-nhan-chuyen-nhuong-so-huu-25-co-phan-185240529205339149.htm