A Fecon Corporation construction site in Hà Nội. — Photo fecon.com.vn

HÀ NỘI — A number of listed and publicly traded companies have been unable to hold their 2026 annual general meetings of shareholders as scheduled after failing to meet the minimum attendance requirement prescribed by law, with one company recording no shareholder participation at all.

Most recently, Fecon Corporation (FCN) announced on June 27 that it had suspended its 2026 general meeting of shareholders after the meeting failed to meet the required quorum.

According to the shareholder eligibility verification report, as of 8.55am on June 29, 49 shareholders attended the meeting in person, while 18 others were represented by proxy, accounting for more than 46.64 million voting shares, or 29.6 per cent of the company's total voting shares.

Based on the shareholder list finalised by the Vietnam Securities Depository and Clearing Corporation (VSDC) on May 25, Fecon has 14,902 shareholders holding more than 157 million voting shares. 

As attendance failed to satisfy the minimum threshold under the Law on Enterprises, the meeting could not proceed. The company said it would convene a second meeting in the near future.

The Golden Group JSC (TGG) also failed to hold its annual meeting under similar circumstances.

According to the firm, only one shareholder attended the meeting, either directly or by proxy. The shareholder represents approximately 100,000 shares, equivalent to 10.61 per cent of the total voting shares based on the VSDC shareholder list dated May 29. As the attendance ratio fell below the statutory requirement, the event could not be conducted.

The Golden Group said it planned to hold its second meeting on July 17, while keeping all previously announced agenda items and meeting documents unchanged.

Quoc Te Holding JSC (LMH) recorded an even rarer case when no shareholders attended its first meeting, held in HCM City on June 22.

According to the shareholder list finalised on May 25, the company has 1,847 shareholders representing more than 25.6 million voting shares. However, actual attendance stood at zero, preventing the event from meeting the quorum requirement under the Law on Enterprises and the company's charter.

The company said it would issue a notice to convene a second AGM in due course. This was not the first time LMH had faced such a situation. In both 2024 and 2025, the company only managed to hold its meeting on the third try.

Indochine Import Export Investment Industrial (DDG) also failed to complete its meeting of shareholders on the morning of June 25, due to insufficient shareholder attendance.

According to the shareholder list dated May 29, DDG has 3,575 shareholders holding 79.8 million shares. At the opening of the meeting, only five shareholders attended in person, representing more than 4.66 million shares, while four proxy holders represented around 6.15 million shares.

Total attendance therefore represented approximately 10.8 million voting shares, equivalent to 13.54 per cent of the company's voting shares.

As the participation rate remained below the minimum 50 per cent quorum required by law, DDG's 2026 meeting could not proceed. The company has yet to announce a date for its second meeting. — BIZHUB/VNS