Who is Mr. Le Thai Sam, who has just been transferred more than 400 million Bamboo shares by FLC?

The Board of Directors of FLC Group Joint Stock Company has just announced a resolution approving the full text of the draft contract in principle on the transfer of shares held at Bamboo Airways Joint Stock Company (Bamboo Airways - code BAV) to Mr. Le Thai Sam.

Specifically, FLC will transfer more than 400 million BAV shares, equivalent to 21.7% of the capital held at Bamboo Airways, to Board member Le Thai Sam, in return for which Mr. Sam will agree to liquidate all debt obligations between the two parties.

According to FLC's third quarter 2022 financial report, the company owes Mr. Le Thai Sam 621 billion VND with 4 loan contracts with a term of 12 months, interest rate of 7%/year. The above loans were made sporadically from April to June 2022.

Mr. Le Thai Sam (59 years old) is a permanent resident of Ho Chi Minh City. He graduated from Ho Chi Minh City University of Economics in 1986 and has more than 30 years of experience in investment, real estate business, banking and finance, and trade services.

Who is Mr. Le Thai Sam, who has just been transferred more than 400 million Bamboo shares by FLC? - 1 — Mr. Le Thai Sam, the person standing on the far right.

Previously, Mr. Sam was the General Director of Cuu Long Iron and Steel Joint Stock Company. However, this company is in the process of dissolution. Mr. Sam is also the “owner” of Thang Long Iron and Steel Joint Stock Company, but this company is also ceasing business and closing its tax code.

Mr. Sam is also the General Director of Sun Company Limited, established in 2006 in Da Nang ; member of the Board of Directors of Suoi Dau Industrial Park Joint Stock Company (Cam Lam district, Khanh Hoa province). Mr. Sam also worked at the Department of Industry and the Department of Culture and Information of Khanh Hoa province.

In addition, Mr. Sam was a member of the Board of Directors of DIC Investment and Trading Joint Stock Company (stock code: DIG). Specifically, Mr. Sam worked at DIC from March 2009 to May 2012, before resigning with the reason of "focusing time on personal business".

After the incident involving FLC's senior leaders, Mr. Le Thai Sam was elected as a member of FLC's Board of Directors from July 2022. In August 2022, Mr. Sam continued to join the Board of Directors of Bamboo Airways.

He was introduced by FLC Group as someone who has a deep understanding of the investment and business environment in Vietnam and has many cooperative relationships with investment funds, organizations and large economic groups.

Recently, in a petition sent to the Board of Directors of Bamboo Airways , Mr. Sam said that as of April 10, 2023, Bamboo Airways owes him more than VND 7,700 billion (including principal and interest). According to Mr. Sam, in 2022, given the company's difficult situation, he is ready to sign contracts to lend the company cash (no interest or low interest and no collateral).

As of May 3, Mr. Sam owns 231.7 million BAV shares, equivalent to 12.53% of Bamboo Airways' charter capital.

Who is Mr. Le Thai Sam, who has just been transferred more than 400 million Bamboo shares by FLC? - 2 — Mr. Sam's petition sent to the Board of Directors of Bamboo Airways.

Regarding the ownership ratio of shareholders at Bamboo Airways, the National Bank (NCB) also said that the bank is holding 203 million BAV shares, equivalent to 11% of Bamboo Airways' capital, and the bank is planning to sell all of these shares to recover debt.

Meanwhile, Bamboo Airways' board of directors is hoping that shareholders will approve the plan to issue an additional 957 million shares, thereby increasing the airline's capital by VND9,570 billion. Of which, about 772 million additional shares, equivalent to VND7,720 billion, will be used to restructure loans and convert debts into shares according to the creditor's agreement with the company.

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