Fined the owner of The Coffee House chain and a series of companies for violating information disclosure
Businesses have mobilized capital through the private bond issuance channel but have not disclosed complete information according to regulations. Although Seedcom and Phuc Long Van have both settled their bonds, there are still old violations from before.
Seedcom was fined for violating information disclosure and bond distribution time
Last week, the State Securities Commission Inspectorate (SSC) issued Decision No. 175/QD-XPVPHC on sanctioning administrative violations against Seedcom Joint Stock Company with a total fine of 162,5 million VND. copper.
In particular, the company was fined 85 million VND for committing an administrative violation of not disclosing information that must be disclosed, including information disclosure related to the situation of capital use. issued and some financial reports for Hanoi Stock Exchange (HNX).
Specifically, the company lacks documents on the use of capital from bond issuance in 2020; 2020 financial report; Status of bond interest and principal payments in 2020. At the same time, Seedcom sent information disclosure content to HNX on time for documents Reporting on the use of capital from the 2021 semi-annual bond issuance ; Report on the use of capital from bond issuance in 2021; Semi-annual financial report 2021; Situation of interest and principal payment of semi-annual bonds in 2021.
In addition, Seedcom violated completing the distribution of bond code SEECH2123001 within 90 days from the date of information disclosure before the bond offering. The State Securities Commission imposed a fine of 77,5 million VND due to this violation.
Seedcom has issued two bond lots, including SEECH2123001 and SEEDCOM_BOND01_2020, with a total issuance value of both lots of VND 250 billion with maturity dates of December 31, 12 and December 2022, 31, respectively. Currently, the two batches of bonds above have been settled. Of which, a batch of 12 billion VND bonds was bought back by Seedcom before maturity.
According to the introduction, Seedcom is the first company to implement the New Retail model in Vietnam, applying technology to business operations, aiming at customer experience. The company is better known as the owner of The Coffee House coffee chain, Kingfoodmart supermarket system, Hnoss and Juno fashion chains. The company was founded in 2014 by Mr. Dinh Anh Huan, one of the 5 co-founders of Mobile World Joint Stock Company. The latest update on Seedcom's financial situation shows that Seedcom achieved net revenue in 2022 of more than 1.600 billion VND, an increase of more than 60% over the same period in 2021, thanks to accelerated efforts after the Covid-19 pandemic. . However, the company still lost 351 billion VND, raising the accumulated loss by the end of 2022 to 1.247,5 billion VND.
Fined the Investor of Phuc Long Van project 92,5 million VND for disclosing information
Similar to Seedcom, Phuc Long Van Joint Stock Company has also completed the settlement of the bond batch issued in 2019. PhucLongVan.Bond.2019 has a total par value of 1.350 billion VND, issued on July 12, 7. 2019 with a term of 48 months, the first interest rate is 11,75%/year. According to the decision of the State Securities Commission on April 25, the company was fined 4 million VND.
The investor of the Phuc Long Van Residential Area project did not disclose information that must be disclosed according to legal regulations. Many documents are missing, including Report on interest and principal payment of semi-annual bonds in 2022; Report on the use of capital from semi-annual bond issuance in 2021; Situation of interest and principal payment of semi-annual bonds in 2021; Semi-annual financial report 2021; Report on bond interest and principal payments in 2020; Report on bond interest and principal payments in 2022; Report on the use of money from bond issuance to be audited semi-annually in 2023; Untimely disclosure of information to the Hanoi Stock Exchange on documents: 2020 financial report; Report on the use of capital from bond issuance in 2020; Report on the use of capital from bond issuance in 2022; Report on the implementation of commitments of the issuing enterprise to bond holders in 2022; Report on the implementation of commitments of the issuing enterprise to holders of semi-annual bonds in 2023; Report on results of bond redemption before maturity);
Two companies related to shark Thuy also lack a series of reports
On April 23, 4, the State Securities Commission Inspectorate issued Decision No. 2024/QD-XPHC on sanctioning administrative violations against iGARTEN Education Development Joint Stock Company, with a fine of 178 million dong. The reason is because the company committed an administrative violation of not disclosing information that must be disclosed according to legal regulations for documents including the 92,5 Semi-Annual Financial Report; 2021 financial report; Report on the implementation of commitments of the issuing enterprise to bond holders in 2022; Bond principal and interest payment situation in 2022; Report on the use of money from the audited bond issuance in 2022; Semi-annual financial report 2022; Report on the implementation of commitments of the issuing enterprise to holders of semi-annual bonds in 2023; Situation of payment of principal and interest on semi-annual bonds in 2023; Report on the use of money from bond issuance to be audited semi-annually in 2023.
At the same time, the company sent information disclosure content to the Hanoi Stock Exchange on time. Report on the use of capital from the 2021 semi-annual bond issuance; Situation of payment of principal and interest on semi-annual bonds in 2021).
iGARTEN Education Development Joint Stock Company manages the STEAMe GARTEN Kindergarten system and is a member of Egroup Group. Previously, the Ministry of Public Security decided to prosecute the case against Mr. Nguyen Ngoc Thuy, Chairman of the Board of Directors and General Director of legal representative of Egame Investment and Distribution Joint Stock Company, Joint Stock Company. Egroup Education Group on charges of fraudulent appropriation of property.
Also related to this group, in mid-April, the State Securities Commission sanctioned administrative violations in the field of securities and stock market against APAX English Joint Stock Company also with the amount of 4 million VND.
The number of unpublished documents or published information is slowly growing, spanning the years 2021-2023. In particular, unpublished documents include the Financial Report for 06 months of 2021, Report on the use of proceeds from bond issuance for outstanding bonds audited by auditing organizations. eligible in 2022, Report on the implementation of commitments of the issuing enterprise to bond owners in 2022, Financial report in 2022, Status of bond interest and principal payments in 2022, Report Financial statements May 06, 2023, Report on the use of proceeds from bond issuance for outstanding bonds audited by qualified auditing organizations May 06, 2023, Report The situation of implementing the commitments of the issuing enterprise to bond owners in 06 months of 2023, The situation of payment of interest and principal of bonds in 06 months of 2023.
The company also sent untimely information disclosure content to HNX Report on the use of capital from bond issuance in 06 months of 2021, Status of bond interest and principal payment in 06 months of 2021.
