On December 31, 2021, the State Bank of Vietnam (SBV) issued Document No. 9346/QD-NHNN allowing the EVN Finance Joint Stock Company (EVNFinance) to increase its charter capital.
Accordingly, the SBV has approved of the EVNFinance's request to increase its charter capital by the maximum amount of VND 198,059,958,200 from the remaining profits in 2020 and the leftover profits of the previous years in accordance with EVNFinance's Plan of Recapitalization, which has been adopted by its General Shareholders’ Meeting.
EVNFinance is requested to increase its charter capital in compliance with the applicable legal regulations. EVNFinance may issue additional shares to pay dividends only when it can ensure full compliance 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 Shareholders’ Meeting adopts a new change of the recapitalization plan which has already been approved by the SBV.
Le Hang