Phuong Nam Cultural JSC (PNC VN) – Changes In Shareholder Structure
In accordance with the latest disclosure, Ms. Tran Thi Ngoc Bich, who had become a major shareholder a few days ago, sold 4,000 shares, and lowered her ownership down to 538,280 shares, equivalent to 4.98% of total shares outstanding. This is just under the threshold of 5% of being considered as a major shareholder.
Several days before, the largest and also an institutional shareholder, Truong Phat Business Development JSC, had cashed out all its stake of nearly 2.7 million shares, equivalent to 24.8% of owner’s equity. Earlier this month, the Board of Directors appointed a Deputy CEO, Mr. Le Quy Phu (age 39), effective from 2nd August 2024.
Phuong Nam Cultural (PNC VN) is one of Vietnam’s most iconic bookstore chain operators (trading name: Phuong Nam Bookstore). It recently announced a slightly bearish business result for Q2 2024 with net revenue of VND141 billion (about USD5.6 million, down -11.5% YoY) and net income of VND1.4 billion (about USD0.05 million, down -77.5% YoY). PNC VN closed at VND10,200 per share on 27th August 2024, slightly down -5.6% from its 52-week high of VND10,800 per share a year ago, but up +25.9% from its 52-week low of VND8,100 per share in late-March 2024.
Sao Vang Rubber JSC (SRC VN) – Disclosure Of Ex-Dividend Date
Following the latest disclosure filed to HOSE, the company announced that the next ex-dividend date for 2023 cash dividend is 17th September 2024. The dividend payout ratio is 6% of par value (par value is VND10,000), so for each share held, recorded shareholders will receive VND600. The total payment, nearly VND17 billion, about 57% out of last year's profit after tax, will be settled on 3rd October 2024. Currently, the two largest shareholders, Hoanh Son Group JSC and state-owned Vinachem, are owning 50.2% and 36.0% of total shares outstanding, respectively.
SRC is a small but successful company. The rubber company reported its bullish financial results for Q2 2024 with net revenue of VND328 billion (about USD13.1 million, up +19.1% YoY) and net income of VND114 billion (about USD4.6 million, up +1,749.6% YoY). SRC VN closed at VND29,900 per share on 27th August 2024, down -27.0% from its 52-week high of VND40,950 per share last month, but up +73.8% from its adjusted 52-week low of VND17,210 per share.
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