Novaland stops transferring 3,000m2 land of Mr. Bui Thanh Nhon's family

(NLDO)- Novaland has just announced the termination of the transaction to transfer a land lot of nearly 3,000m3 of Chairman Bui Thanh Nhon's family.

No Va Real Estate Investment Group Corporation ( Novaland ) has just announced the Resolution of the Board of Directors on terminating the transaction of receiving the transfer of land plots belonging to the land plot No. 14B Tran Ngoc Dien Street, Thao Dien Ward, Thu Duc City (HCMC), and at the same time liquidating the Compensation Contract signed on December 15, 2007 between the company and Mr. Bui Thanh Nhon, Ms. Cao Thi Ngoc Suong (Transferor).

The above land plot has an area of 2,950 m², transferred by Mr. Bui Thanh Nhon and his wife - Chairman of the Board of Directors of Novaland.

According to the Resolution, Novaland assigned the General Director to carry out the necessary procedures to terminate this transaction, including but not limited to recovering the amount that the transferor must repay to Novaland, at least VND 426 billion. At the same time, Novaland is responsible for handing over the entire land area in its current condition to the transferor.

Mr. Bui Thanh Nhon is currently Chairman of the Board of Directors of Novaland.

Also related to Novaland, on the morning of April 24, Mr. Bui Thanh Nhon announced that he had completed the transaction of selling 2.5 million NVL shares through order matching on April 17, earning 25 billion VND at par value.

After the transaction, the number of shares held by Mr. Nhon decreased from 341.29 million shares (equivalent to 17.5%) to 338.79 million shares (equivalent to 17.37%).

Meanwhile, Novaland said that Mr. Bui Cao Nhat Quan – Mr. Nhon’s son – could not sell any of the more than 2.92 million shares registered for sale earlier. Thus, Mr. Quan still holds 78.242 million NVL shares, accounting for 4.01% of Novaland’s charter capital. According to Mr. Quan, the reason for not being able to sell is due to unfavorable market developments.

Recently, NVL shares have had positive developments, including a session of ceiling price increase. As of the morning of April 24, NVL is trading at 11,400 VND/share, with high liquidity, reaching more than 15 million shares.

Source: https://nld.com.vn/novaland-ngung-chuyen-nhuong-khu-dat-3000m2-cua-gia-dinh-ong-bui-thanh-nhon-196250424100411617.htm