Duc Giang Chemical convened an extraordinary shareholder meeting after the chairman was arrested

This information was announced by Duc Giang Chemical Group (DGC) on March 19 – two days after the Ministry of Public Security announced the temporary detention of Mr. Dao Huu Huyen, Chairman of the Board of Directors of this company for 3 crimes: Violation of accounting regulations causes serious consequences, Violation of regulations on resource exploitation and Causes environmental pollution.

Mr. Huyen’s son, Dao Huu Duy Anh, Vice Chairman of the Board of Directors, former General Director of Duc Giang Chemical, was arrested for the crime. Violating accounting regulations causes serious consequences. Mr. Pham Van Huyen, a member of the Board of Directors of DGC, was also prosecuted and detained.

Currently, the DGC Board of Directors has two remaining people: Mr. Luu Bach Dat, member of the Board of Directors and General Director and Ms. Nguyen Thi Thu Ha, independent member of the Board of Directors. Thus, the number of remaining members of the Board of Directors of Duc Giang Chemical is less than the minimum number prescribed by law (3 members).

Pursuant to the provisions of the Enterprise Law, Mr. Dat and Ms. Ha decided to convene an extraordinary general meeting of shareholders. This meeting is for the purpose of electing 3 additional members of the Board of Directors and other contents under the authority of the general meeting of shareholders (if any).

The meeting time is May 8 and the closing date for shareholder meeting of Duc Giang Chemical is April 10.

Duc Giang Chemical was established in 1963, once under the General Department of Chemicals. This enterprise was equitized in 2003. The company’s main activities are in the field of products in the chemical industry such as phosphoric acid, yellow phosphorus, fertilizer, washing powder, NAOH caustic soda…

After the news that senior leaders were arrested, the company’s shares fell all the way for three consecutive days. Closing the trading session on March 19, the DGC code was 59,600 VND and the floor price surplus was more than 22.8 million shares.