The entire Board of Directors of Thanh Cong Securities resigned

Thanh Cong Securities Company (TCI) said it received resignation letters from 3 members of the Board of Directors (BOD). All 3 leaders, including Chairman Nguyen Khanh Linh and 2 Vice Presidents Nguyen Dong Hai and Nguyen Quoc Viet, all stated personal reasons.

Mr. Linh has been in the “hot seat” at TCI since 2019 and currently does not own any shares. In addition to Thanh Cong Securities, he also participates in the leadership team of many businesses under SGI Holdings (formerly Saigon 3 Group). A subsidiary of SGI, Saigon 3 Capital, is the largest shareholder at Thanh Cong Securities, with 54.79% of capital.

Previously, two members of the Board of Directors, Mr. Tran Bao Toan and Dinh Tran Lac Thien, also resigned. Thus, the entire current Board of Directors of the company intends to leave their management positions even though their term of office lasts until 2028.

The above personnel changes took place after major shareholders related to SGI Holdings registered to divest capital from TCI. Of which, Saigon 3 Capital wants to sell nearly 21.6 million shares for financial investment purposes. The transaction is expected to take place from June 16 to July 15. If successful, their holding rate will drop to 36.14%.

In addition, Saigon 3 Jean also registered to sell all of more than 3.4 million TCI shares during the same period mentioned above. If the transaction is successful, this company will no longer hold any shares in Thanh Cong Securities.

The above resignation letters will be approved at the annual meeting held on June 20. In the immediate future, the board of directors plans to submit to shareholders a plan to elect 5 new members of the Board of Directors for the 2026-2031 term.

In addition, according to the expected meeting content, the company will ask for opinions on switching to a new governance model without a Supervisory Board. The shareholders also decided to dismiss all 3 current members of the Supervisory Board including Head of the Board Tran Thi Nhan, Ms. Truong Thi Hong Nhan and Mr. Nguyen Trung Hieu.

In 2025, TCI has total consolidated operating revenue of VND 395.1 billion, an increase of nearly 73% over the same period. However, profit after tax decreased by nearly 79% to 12 billion VND and did not complete the set plan. Rising operating costs are the main cause of eroding profits.

This year, Thanh Cong Securities aims to have a total revenue of nearly 233 billion VND. Profit after tax is expected to reach 14.3 billion VND. TCI’s main strategy is to promote margin lending, brokerage and proprietary trading to prepare for the market recovery period.