How shall the General Meeting of Shareholders of public companies be convened and organized in Vietnam?

How shall the General Meeting of Shareholders of public companies be convened and organized in Vietnam?

How shall the General Meeting of Shareholders of public companies be convened and organized in Vietnam? Thank you!

Answer:

Pursuant to Clause 2, Article 41 of the Law on Securities in 2019, the General Meeting of Shareholders shall be convened and organized as follows:

- The Board of Directors, the Board of Controllers and the convener shall follow the procedures for convening the General Meeting of Shareholders specified in the Law on Enterprises, the company’s charter and the company administration regulations; prepare the place and set a reasonable time for the shareholders to attend the General Meeting of Shareholders;

- The company administration regulations shall provide for application of information technology to enable shareholders to attend meetings online, vote electrically or through another method as prescribed by the Law on Enterprises and the company’s charter;

- The public company shall invite representatives of the accredited audit organization that audited its annual financial statement to attend the annual General Meeting of Shareholders in case the audit report contains qualified opinions;

- Other regulations of law and the company’s charter shall be complied with.

What is an accredited audit organization?

According to the latest regulations on securities promulgated by the National Assembly in Vietnam, what is an accredited audit organization? Thank you!

Answer:

Pursuant to Clause 22, Article 4 of the Law on Securities in 2019 stipulating as follows:

An accredited audit organization means an independent audit organization on the list of audit organizations accredited by State Securities Commission (SSC) in accordance with this Law and independent audit laws.

What are obligations of the issuer that has successfully made a public securities offering in Vietnam?

What are obligations of the issuer that has successfully made a public securities offering in Vietnam? Thank you!

Answer:

Pursuant to Article 29 of the Law on Securities in 2019 stipulating obligations of the issuer that has successfully made a public securities offering in Vietnam as follows:

- The issuer that has successfully made a public offering and thus become a public company as prescribed in Point b Clause 1 Article 32 of this Law is not required to submit the application for public company registration to SSC as prescribed in Clause 1 Article 33 of this Law.

- The successful issuer shall complete the application for listing or registration within 30 days from the ending date of the public offering.

- The successful issuer has the obligation to disclose information in accordance with this Law.

Best regards!