Disclosure of information of public companies in Vietnam

1. Public companies must disclose information periodically for one of the following contents:

- Annual financial statements were audited, six-month financial statements were reviewed by an independent audit company or audit organization approved, quarterly financial statements;

- Resolution of the Annual Shareholders’ general assembly.

2. Public companies must disclose any irregular information as happening one of the following cases:

- Company's bank account is blocked or permitted to operate again after being blocked;

- Temporary suspension of business; being revoked certificates of business registration or license for establishment and operation or operation license;

- Passing decision of shareholders' general assembly;

- The decision of management board on the reacquisition, resale of shares of the company; the date of exercising the right to buy shares of bondholders with rights to purchase shares or the date of conversion of convertible bonds into stocks and decisions relating to the offering; strategies, medium term development plan and annual business plans of the company; establishment of subsidiaries, joint companies; closing, opening branches, representative offices, changing the name and address of company headquarters; capital contribution valued at ten percent or more of total assets of the company into another organization; capital contribution valued at fifty percent or more of total capital of companies receiving capital;

- Decision to change applicable accounting methods; excepted opinion or declining to express an opinion of the audit organization for financial statement, the change of audit firms;

- When any change to members of management board, inspection committee, General Director, Deputy Director General or Director, Deputy Directors, Chief Accountant; having the decision to prosecute members of management board, Director General, Deputy Director General or Director, Deputy Directors, Chief Accountant of the company; having the verdict, the court's decision related to the operation of the company; having conclusions of the tax agencies for company’s tax law violations;

- Buying, selling assets valued at more than fifteen percent of the company's total assets per balance sheet of latest audit;

- Decision on borrowing or issuing bonds valued at thirty percent of equity at the time of the latest report or more;

- The company received notice of the Court that they accepted the petition for bankruptcy procedures;

- Being lost property valued at ten percent of equity or more;

- Having events that affect seriously business operations or management situation of the listing organizations;

- Upon happening one of events seriously affects the lawful interests of investors, the stock price increased or decreased continuously during a certain time and the sustainable development of stock markets at the proposal of the State Securities Commission.

View more details at the Law Amending, Supplementing a number of Articles of Law on Securities in 2010 of Vietnam, effective from July 01, 2011.

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