Many unexpected developments continued to take place at the second Vietnam Export Import Commercial Joint Stock Bank (Eximbank) shareholder meeting in 2019.
After the controversy about the Presidency status and the answers from the parties, Eximbank’s 2019 shareholders’ meeting for the second time continued to proceed through the content One with the Chair of the Union as originally announced.
However, after three times of voting, the proportion of shareholders who approved the Regulation on implementing the Eximbank’s Annual Shareholders Meeting 2019 has not yet been reached. Accordingly, at the time of closing 10h20, the proportion agreeing was only 39.85 percent, disagreeing was 55.09 percent, without comments was 6.06 percent
Concerning the ratio of votes approved the Regulation on implementing the Annual Shareholders Meeting, Nguyen Chan, husband of the late founding Chairwoman of Hoan Cau Group Tran Thi Huong, suddenly proposed to blockade all eximbank shares (code EIB) owned by the couple. He proceeded to prevent the transfer of shares related to him, suspend the status and voting rights of Nguyen Quoc Toan or shareholders representing at the meeting.
Because shareholders did not reach the agreed rate through the content of the Meeting’s Regulations, the Head of Supervisory Board commented that the bank had put a lot of effort into it. If it stopped, it was very regrettable. Shareholders, representatives of shareholder groups continued to have arguments about the Presidency status, the desire to elect more Members of the Presidium or the new board of directors, etc.
After many comments, Cao Xuan Ninh shared: “Our Board of directors felt embarrassed to let the bank’s mess happen over time. We feel pain when Eximbank from the top five biggest commercial banks now falls to the top three weakest commercial banks. I am elected to be President as legal, valid, recognised. But now, shareholders have many disagreements. There are not enough votes to approve the Regulation of conducting the meeting. This is very unfortunate. I request the Head of the Supervisory Board to consult shareholders again. If it still does not guarantee, I have to stop the conference once again”.
By 11h25 minutes, due to insufficient voting rate through the Regulation of conducting the meeting, Tran Ngoc Dung, Head of Supervisory Board, officially stated that the meeting could not proceed. Eximbank will conduct the third Annual general Meeting at the appropriate time.
