Vinalines moves shareholders’ meeting to end of July

Thursday, Jun 27, 2019 13:47

Vinalines has had to change the date of its shareholders' meeting yet again to wait for a new circular guiding the equitisation process to come into effect. — Photo

The Vietnam National Shipping Lines (Vinalines) will delay its annual shareholders’ meeting until July 29, one month later than expected.

This delay is due to the amending of the Ministry of Finance’s Circular 34/2019/TT-BTC guiding the initial sale of shares and managing the proceeds from the equitisation of enterprises, which will officially take effect on July 29, 2019.

The corporation must wait until the circular takes effect to meet the provisions of the Government’s Enterprise Law and Decree No. 126/2017/ND-CP on transforming State enterprises and one member limited companies into joint stock companies.

This is the third time Vinalines has had to change the time of its first shareholders' meeting to officially switch to a joint stock company model. The meeting was originally set for the first quarter of the year, and then moved to June 24.

To prepare for the equitisation process, Vinalines has organised two share offerings.The initial public offering session attracted 42 investors who registered to buy 5,439,800 shares (accounting for more than 1.1 per cent of the nearly 490 million shares offered for auction). At the second negotiation session, the number of shares offered by Vinalines is more than 483.3 million. — VNS

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