Return to previous page GELEX Group provides the following information regarding Mr. Dang Phan Tuong for the reference of shareholders, investors, partners and the media.
The matter does not affect GELEX’s operations
Mr. Dang Phan Tuong has been prosecuted as a defendant in an investigation concerning a case at the National Power Transmission Corporation (EVNNPT).
The matter is personal to Mr. Dang Phan Tuong and relates to a period before he joined GELEX Electric and its subsidiaries. It is not related to the operations of GELEX, GELEX Electric or any company within the GELEX system.
At GELEX Electric, Mr. Dang Phan Tuong is a member of the Board of Directors and is not involved in the company’s day-to-day management. The company’s operations, financial management and cash flows continue to be managed by the executive team under the existing governance structure.
As a result, the matter has no impact on GELEX Electric’s business operations.
Shareholder approval sought for Mr. Dang Phan Tuong’s dismissal from the Board
Following receipt of the information, GELEX Electric, CADIVI and THIBIDI reviewed the relevant procedures and prepared the necessary personnel arrangements in accordance with applicable regulations and each company’s charter.
On September 14, the Boards of Directors of GELEX Electric, CADIVI and THIBIDI approved resolutions to seek shareholders’ written approval for the dismissal of Mr. Dang Phan Tuong as a member of the Board of Directors, as he no longer meets the applicable requirements for the position.
GELEX and its subsidiaries continue to operate normally and stably
GELEX’s and its subsidiaries’ business, financial and investment activities continue as planned.
GELEX remains committed to maintaining stable operations and fulfilling its obligations to shareholders, investors, customers, partners and other stakeholders.
We encourage shareholders, investors and other stakeholders to rely on official information from GELEX and the relevant authorities when assessing this matter and the Company’s operations and prospects.
Sincerely,
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