No Va Real Estate Investment Group Corporation - Novaland (NVL) has just issued a statement regarding the rumor that Mr. Bui Thanh Nhon has resigned from the position of Chairman of the company.

Accordingly, Novaland said that currently, Novaland still maintains stable production and business activities and there is no disruption in the company's leadership team.

Novaland said that on January 14, 2025, the media published false information related to Novaland's leadership. Specifically, it mentioned that Mr. Bui Thanh Nhon had just submitted a resignation letter from the position of Chairman of the Board of Directors of Novaland Group, and resigned from the Board of Directors of the Group from January 20.

Novaland affirms that this is fabricated information, completely untrue, causing serious misunderstanding for Novaland's customers, partners, shareholders, and investors, causing a stir in public opinion.

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Mr. Bui Thanh Nhon - Chairman of Novaland. Photo: NVL

Currently, Novaland still maintains stable production and business activities and there is no change in the leadership team. Mr. Bui Thanh Nhon - Chairman of the Board of Directors of Novaland Group is still holding the position, directly directing and orienting the Group's activities.

Novaland also affirmed that it is determined to recover and strive to fulfill its commitments to ensure the best interests of all stakeholders.

Currently, Mr. Bui Thanh Nhon directly holds 96.8 million NVL shares. The group of shareholders related to Mr. Nhon currently owns a total of 38.6% of the capital of this enterprise.

In the session of January 14, NVL shares of No Va Real Estate Investment Group Corporation decreased for the fourth consecutive session, losing nearly 5.7% and reaching a historical low of VND8,950/share. Previously, on January 10, for the first time since being listed at the end of 2016, Novaland shares fell below par value, losing the VND10,000/share mark.

NVL decreased after the company's Board of Directors adjusted the price and conversion rate for the 300 million USD international bond lot for the 5th time, from 40,000 VND to 36,000 VND/share, but still more than 4 times higher than the price on January 14.

In the past month, NLV has decreased by 12% and in the past year it has decreased by about 50%. Compared to the level of 92,500 VND/share in mid-2021, Novaland shares have decreased by more than 90%.

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