On December 24, 2021, the State Bank of Vietnam (SBV) issued Document No. 9103/NHNN-TTGSNH allowing the Southeast Asia Commercial Joint Stock Bank (SeABank) to increase its charter capital.
Accordingly, the SBV has approved of SeABank's request to increase its charter capital by the maximum amount of VND 1,813,116,310,000 (One thousand eight hundred thirteen billion, one hundred sixteen million, three hundred ten thousand Vietnamese Dongs) through the means of issuing additional shares to the existing shareholders as adopted at the Resolution dated July 20, 2021 of the General Shareholders’ Meeting of SeABank.
Also in the above Document, SeABank is requested to increase its charter capital in accordance with the applicable laws; inform in writing to make sure that all organizations and individuals buying SeABank’s additional shares will be committed to full understanding and fulfillment of the shareholders' duties as prescribed for in Article 54 of the 2010 Law on Credit Institutions (as amended and supplemented) including such duties as: taking responsibility before the law for the legality of the capital used for their contributions, purchases and transfers of SeABank's shares; not using any capital source provided by a foreign credit institution or a foreign bank branch to buy and receive transferred shares of SeABank; not contributing capital or purchasing shares of SeABank in the name of another individual or legal entity in any form, except in the case of entrustment as prescribed for by law; being responsible for compliance with the requirements for key shareholders, key shareholders and their related persons. A shareholder who receives entrusted investment on behalf of another organization or individual must provide SeABank with the information about the actual owner of the shares as entrusted by that investment. SeABank reserves the right to suspending the shareholder rights of any shareholder in case the Bank discovers that they do not provide accurate information about the real owner of those shares.
Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, SeABank is requested to implement the procedures for revising its License as prescribed for in Paragraph 2 of Article 12 of Circular No. 50/2018/TT-NHNN dated December 31, 2018 issued by the SBV Governor stipulating the dossiers, sequences and procedures for requesting approval of a number of revised substances by commercial banks, foreign bank branches.
This Document is valid within 12 months from the date of its signing.
Le Hang