Mr. Le Hong Minh is no longer Chairman of VNG Board of Directors.

On January 10, VNG Corporation (code: VNZ) announced information about the dismissal of Mr. Le Hong Minh - co-founder of VNG from the position of Chairman of the Board of Directors from January 1, 2023. Mr. Vo Sy Nhan was appointed to this position to replace Mr. Le Hong Minh for the term 2022-2025. The decision takes effect from January 1, 2023.

Mr. Nhan is one of the four independent members of the Board of Directors for the 2022-2025 term who were recently elected by VNG on December 10, 2022, along with Ms. Christina Gaw, Mr. Edphawin Jetjirawat, and Mr. Nguyen Le Quoc Anh. He has experience in managing many businesses. Before taking the position of Chairman of VNG, Mr. Nhan was the CEO of Empire City, co-founder and CEO of GAW NP Capital - a joint venture between Gaw Capital Partners and NP Capital Partners, and Vice Chairman of Tien Phuoc Company.

In addition to the above information, on January 10, VNG also announced the Board of Directors' resolution on the plan to offer all of more than 7.1 million treasury shares at an offering price of VND 177,881/share, equivalent to a total expected capital mobilization of more than VND 1,260 billion. The professional securities investor approved to receive the transfer is BigV Technology JSC. BigV currently owns 1.6 million shares, equivalent to 4.6% of VNG's charter capital. If it buys all of VNG's treasury shares, BigV will increase its ownership to 24.42% of capital. The offering price for BigV is equal to 74% of VNZ's market price. Previously, on January 5, VNG listed 35.8 million VNZ shares on Upcom at VND 240,000/share, but there has been no transaction to date.

According to Market Pulse