Disclosing information of majority shareholders, group of affiliated persons holding 5% and more of the voting shares - Pinetree Securities

Disclosing information of majority shareholders, group of affiliated persons holding 5% and more of the voting shares

Disclosing information of majority shareholders

Disclosing information of majority shareholders, group of affiliated persons holding 5% and more of the voting shares

Pursuant to Circular No. 96/2020/TT-BTC dated 16/11/2020 of the Ministry of Finance guiding the disclosure of information on the stock market, Pinetree would like to announce the disclosure obligation of investors who are major shareholders, groups of affiliated persons purchasing shares to own at least 5% of voting shares of a public company, public secured certificates of a closed-end fund; Groups of related foreign investors holding at least 5% of voting shares of an issuer or at least 5% of fund certificates of a closed-end. fund, specifically as follows:

1.        When organizations and individuals become or cease to be major shareholders of public companies or public securities investment companies, they must disclose information and report on transactions to public companies, securities investment fund management companies, the State Securities Commission and the Stock Exchange (for listed shares,  registration of transactions) in the form specified in Appendix VII enclosed Circular No. 96/2020/TT-BTC within 05 working days from the date of becoming or ceased to be a major shareholder.

2.        Major shareholders of public companies or public securities investment companies, when there is a change in the number of shares owned over the thresholds of 1% of the number of voting shares, must disclose information and report to public companies, securities investment fund management companies,  The State Securities Commission and the Stock Exchange (for listed and registered shares) within 05 working days from the date of the above change according to the form specified in Appendix VIII enclosed Circular No. 96/2020/TT-BTC.

            (*) E. g.: The investor A owns 5.2% of voting shares of a listed organization X. On the T day, Mr. A placed a buy order that causes an increase in his holding of X shares from 5.2% to 5.7%. Then, on the T’ day, Mr. A placed another buy order which continues to cause an increase in his holding of X shares from 5.7% to 6,1%. Because Mr. A’s holding of X shares exceeds 6% after his transaction conducted on the T’ day, within 05 working days from the completion of his securities transaction, Mr. A shall disclose information and report on changes in his holding of shares to company X, the State Securities Commission and the Stock Exchange.

3.        The Time of becoming or ending a majority shareholder status or change in holding of shares by more than 1% mentioned in Clauses 1 and 2 above is from the date of completion of the securities transaction (the transaction completion date) as prescribed in Clause 12 Article 3 Circular No. 96/2020/TT-BTC.

4.        The provisions of Clauses 1, 2 and 3 above also apply to related groups of persons owning 5% or more of the voting shares of public companies or public securities investment companies; investors, related groups of persons owning 5% or more of fund certificates of closed-end funds; The relevant group of foreign investors owns 5% or more of the voting shares of 01 issuer or 5% or more of the fund certificates of the closed-end fund. The relevant group of foreign investors owning 5% or more of the voting shares of 01 issuer or 5% or more of fund certificates of closed-end funds shall disclose information according to the forms specified in Appendix IX and Appendix X enclosed Circular No. 96/2020/TT-BTC based on the total number of shares and closed-end fund certificates held by that group of foreign investors.

Note: The above content is used for reference. Please study and comply with the provisions of Circular No. 96/2020 / TT-BTC, documents amended, supplemented and replaced from time to time and consult the legal advice of the competent consultant (if necessary) in case you plan related transactions.

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