Hoang Anh Gia Lai plans to issue 210 million shares to convert a debt of VND2,520 billion from a bond lot issued in 2016 - Photo created by AI
Mr. Duc's company wants to issue 210 million shares to convert debt obligations.
Hoang Anh Gia Lai (HAG) - the company chaired by Mr. Doan Nguyen Duc (Bau Duc) - has just announced additional documents to be presented to shareholders at the annual general meeting of shareholders to be held this June.
Accordingly, Hoang Anh Gia Lai plans to ask shareholders for approval of a plan to handle group B bond debt obligations through issuing shares to convert part of this debt.
The bond lot that Hoang Anh Gia Lai wants to handle was issued at the end of 2016, with a total principal debt of VND2,000 billion, but the accrued interest has reached VND1,936 billion. The maturity date of this "debt" of Hoang Anh Gia Lai is December 30, 2026.
With the above conversion plan, Hoang Anh Gia Lai plans to issue a maximum of 210 million shares to all group B bond holders, equivalent to a debt value of VND 2,520 billion.
Hoang Anh Gia Lai also proposed a method of determining and the conversion rate for the above plan, in order to convince shareholders in a more transparent manner.
According to Hoang Anh Gia Lai , according to the audited consolidated financial report for 2024, the book value of HAG shares at the end of last year was VND 8,819/share.
Currently, HAG shares are trading on HoSE with reference prices in the last 90 trading sessions (from January 10, 2025 to May 28, 2025) at an average price of VND 12,445/unit.
Based on the book value and considering the actual situation, the Board of Directors of Hoang Anh Gia Lai has proposed the price of issuing shares to convert the bond debt to VND12,000/share. Accordingly, VND12,000 of bond debt will be converted into 1 newly issued share, priced at VND10,000.
Group of creditors revealed, some lend hundreds of billions of dong
The identity of the creditor of Hoang Anh Gia Lai 's group B bonds is also attached by the enterprise.
According to this list, Hoang Anh Gia Lai 's creditors include 1 company and 7 people. Among them are Huong Viet Investment Consulting Joint Stock Company (720.72 billion VND) and Mr. and Mrs. Le Minh Tam (395.64 billion VND), Nguyen Thi Dao (83.16 billion VND), Phan Cong Danh (60.48 billion VND), Nguyen Anh Thao (60.48 billion VND), Ho Phuc Truong (599.76 billion VND), Nguyen Duc Trung (599.76 billion VND).
If the issuance is successful, this group of creditors will hold 18.83% of Hoang Anh Gia Lai's capital.
In addition, the Board of Directors of Hoang Anh Gia Lai also proposed that the congress cancel the plan to issue shares under the employee stock option program (ESOP) approved in 2023. In return, the company will present to shareholders a plan to issue bonus shares to employees.
Regarding the business plan, Hoang Anh Gia Lai set a target of VND5,514 billion in net revenue this year. Of which, the fruit segment continues to be the main source of revenue, contributing 76% of revenue. The pig farming segment accounts for 19%, the remaining 5% comes from other goods. The company sets a target of VND1,114 billion in after-tax profit.
Regarding investment plans, Hoang Anh Gia Lai revealed that this year there are no new investment plans, but will focus on maintaining the current scale of the garden area. Similarly, the pig farming sector will not expand the scale of the barns, but will focus on improving management and operational efficiency.
What will the new bosses of Hoang Anh Gia Lai be like?
At the congress, Hoang Anh Gia Lai will elect a new board of directors for the 2025-2030 term. The list of candidates includes Mr. Doan Nguyen Duc (Bau Duc) - current chairman of the board of directors - running for the company's leadership for the new term.
With 30.26% ownership of Hoang Anh Gia Lai's charter capital, Mr. Duc also nominated a number of other individuals to complete the board of directors .
Mr. Duc's nomination list includes 3 familiar figures at Hoang Anh Gia Lai , including Mr. Vo Truong Son - member of the board of directors since 2015; Ms. Ho Thi Kim Chi - deputy general director of Hoang Anh Gia Lai ; Ms. Vo Thi My Hanh - member of the board of directors and deputy general director of Hoang Anh Gia Lai since 2021.
In addition, Mr. Duc also nominated Ms. Ha Khiet Tran to the board of directors - this is a completely new candidate, currently the director of capital investment at Huong Viet Investment Consulting Joint Stock Company.
In addition to Mr. Duc, the group of shareholders owning 11.47% of Hoang Anh Gia Lai's charter capital - including Thaigroup Corporation, LPBank Securities Company (LPBS), and Mr. Nguyen Phan Anh - nominated Ms. Vu Thanh Hue to the position of member of the board of directors for the new term.
Source: https://tuoitre.vn/cong-ty-bau-duc-muon-tra-mon-no-2-520-ti-bang-co-phieu-nhieu-nguoi-cho-vay-vai-tram-ti-dong-20250603153833611.htm
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