Thanh Thanh Cong - Bien Hoa Joint Stock Company (stock code SBT - HOSE) has just announced the Board of Directors Resolution dated March 22, 3 on temporarily suspending the public offering of additional shares.
On March 22, 03, TTC AgriS announced the Board of Directors Resolution on postponing the plan to issue an additional 2024 million shares (equivalent to 148% of charter capital) to existing shareholders with an expected offering price of VND 20. /share.
According to the initial capital increase plan, the offering time is expected to be conducted before December 31, 12 and after being approved by the State Securities Commission, with a rights exercise ratio of 2024:5. If the offering is successful, TTC AgriS can collect more than VND 1 billion, all proceeds are expected to be used to supplement capital to serve TTC AgriS's key strategies for the 1.777 - 2021 period. .
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| TTC AgriS temporarily suspended the plan to issue 148 million shares. |
The Board of Directors resolution announced that the reason for temporarily postponing the issuance of additional shares of TTC AgriS is because the Company wants to ensure benefits for shareholders in the context of a volatile general market.
It is known that the Board of Directors of TTC AgriS will consider, decide and re-deploy the public stock offering at another time more suitable to the company's business plan and development orientation. must be based on the spirit of ensuring the rights and interests of shareholders.
Based on the authorization of the General Meeting of Shareholders, the Board of Directors will consider, decide and re-implement the public offering of shares at another time in accordance with the interests of the company, shareholders and in compliance with the provisions of the General Meeting of Shareholders. according to the law. The Company's Board of Directors will report on the suspension of share issuance at the nearest General Meeting of Shareholders.
Previously, according to the initial plan, SBT planned to issue more than 148 million shares (equivalent to 20% of charter capital) to existing shareholders with an expected offering price of 12.000 VND/share. The expected offering time is before December 31, 12 and after being approved State Securities Committee acceptance. If the offering is successful, Thanh Thanh Cong - Bien Hoa can earn more than 1.777 billion VND to pay for sugar and fertilizer purchase contracts with its subsidiaries.
The temporary suspension of this stock issuance took place in the context that SBT had just successfully mobilized VND 1.000 billion from bonds. Specifically, on January 29, 1, the Company issued a batch of bonds code SBTH2024 with a volume of 2427001 bonds, par value of 5.000 million VND/bond, corresponding to an issuance value of 100 billion VND. Completion date is February 500, 22. With a 2-year term, this batch of bonds matures on January 2024, 3. Issuing interest rate is 29%/year.
Previously, on November 30, 11, SBT also successfully issued bond batch SBTB2023, with a value of 2326002 billion VND. The release date is November 500, 30 and will be completed on December 11, 2023. This bond code has a term of 5 years, maturing on November 12, 2023. Interest rate 3%/year.
For the purpose of restructuring the portfolio and optimizing investment activities, on March 11, 03, Ms. Huynh Bich Ngoc, Chairman of the Board of Directors of Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, Hose: SBT) announced Registered transfer of 2024 million SBT shares. The transaction is expected to be carried out according to the 15% negotiated transaction method. Transaction time is from March 100, 14 to April 03, 2024. The expected buyers are units belonging to the same ecosystem of the Company.
As of March 11, 03, Ms. Huynh Bich Ngoc is holding 2024 SBT shares, equivalent to 84.265.703% of equity. If the transaction is successful, Ms. Ngoc is expected to hold 11,06 shares, equivalent to 69.265.703% of equity. It is known that this transaction was carried out for the purpose of restructuring the investment portfolio, and is part of the capital optimization plan to develop the "green" business strategy of the Board of Directors of TTC AgriS.
Previously, at the 2022-2023 Annual General Meeting of Shareholders held in Tay Ninh, Ms. Ngoc also emphasized: "Sustainable development is a throughout the development journey of TTC AgriS, we take "Green" strategy is the foundation for development, competitive advantage and providing the market with green energy solutions from clean production.
