MSB allowed to increase charter capital

Accordingly, the SBV has approved of the MSB's request to increase its charter capital by the maximum amount of VND 4,725,000,000,000 (Four thousand seven hundred twenty-five billion Vietnamese Dongs) through the means of issuing additional shares to the existing shareholders by the maximum amount of VND 4,582,500,000,000 (Four thousand five hundred eighty-two billion, five hundred million Vietnamese Dongs) to increase the share capital from the equity sources as adopted by the General Shareholders’ Meeting of the MSB in Resolution No. 30/NQ-DHDCD dated April 25, 2022, and approved by the Board of Directors of the MSB in Resolution No. 02.01/2022/NQ-HDQT dated July 19, 2022; Issuing bonus shares to the MSB’s employees by the maximum amount of VND 142,500,000,000 (One hundred forty-two billion, five hundred million Vietnamese Dongs) from the equity sources in line with the Plan on the issuance of optional bonus shares to the MSB’s employees in 2022 as adopted by the General Shareholders’ Meeting of the MSB in Resolution No. 30/NQ-DHDCD dated April 25, 2022, and approved by the Board of Directors of the MSB in Resolution No. 02.02/2022/NQ-HDQT dated July 19, 2022.

The MSB is requested to increase its charter capital in compliance with the applicable laws. The MSB can only conduct its recapitalization plan after having complied with all applicable laws and regulations. Within a maximum of 10 working days from the completion date of the issuance of the new shares in accordance with the laws, the MSB shall implement the procedures for amending and supplementing its License as prescribed for in Paragraph 4, Article 11 of Circular No. 50/2018/TT-NHNN dated December 31, 2018 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.

LK