Thursday, July 18 2019

VietNamNews

Eximbank meeting delayed for the third time

Update: June, 21/2019 - 20:59

The Viet Nam Export Import Commercial Bank (Eximbank)'s second 2019 Annual General Meeting of Shareholders was postponed again on Friday due to a dispute among major shareholders.— Photo tuoitre.vn

HÀ NỘI — The Việt Nam Export Import Commercial Bank (Eximbank)'s second 2019 Annual General Meeting of Shareholders was postponed again on Friday due to a dispute among major shareholders.

This meeting was initially scheduled to be held on April 26 but failed for the first time due to a lack of shareholders with voting stocks (57 per cent, less than the acceptable level of 65 per cent).

The meeting was then delayed till May 26, the management board said it needed more time to prepare thoroughly for the organisation, so the meeting was postponed for a second time.

At a meeting held in Hà Nội, the bank’s strategic shareholders said they did not agree with the board’s decision, questioning the legitimacy of Chairman Cao Xuân Ninh, Tien Phong online reports.

A representative of Sumitomo Mitsui Banking Corp (SMBC) asked the Management Board to re-consider the legitimacy of the current Chairman before continuing with the meeting.

Head of Supervisory Board Trần Ngọc Dũng, nonetheless, informed that 55 per cent of the shareholders did not agree with the continuation of the meeting, more than 5 per cent did not have an opinion and only 39 per cent agreed.

As a result, Eximbank's General Meeting of Shareholders was postponed for the third time. — VNS

 

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