On January 4, 2023, the State Bank of Vietnam (SBV) issued Document No. 18/NHNN-TTGSNH allowing EVN Finance Joint Stock Company (EVNFinance) to increase its charter capital.
Accordingly, the SBV has approved of EVNFinance's request to increase its charter capital by the maximum amount of VND 3,545,746,710,000, of which VND 3,510,640,310,000 through the form of issuing new shares to the current shareholders, and VND 35,106,400,000 through the form of issuing new shares to its employees based on an optional program, which had been adopted at the Annual General Meeting of Shareholders of EVNFinance in 2022.
EVNFinance is requested to increase its charter capital in compliance with the applicable legal regulations. EVNFinance may increase its charter capital provided that it has comformed with the applicable laws. EVNFinance is also required to implement the procedures for amending and supplementing its License upon having completed the charter capital increase as prescribed for in Paragraphs 3 & 4 of Article 9 of Circular No. 25/2017/TT-NHNN dated December 29, 2017 stipulating the dossiers, sequences and procedures for requesting approval of a number of revised substances by non-bank credit institutions.
This Document is valid within 12 months from the date of its signing. The Document will cease to be valid in case that EVNFinance's recapitalization plan is not implemented as scheduled, or that its General Meeting of Shareholders adopts a new change of the recapitalization plan which has already been approved by the SBV.
Le Hang