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Enforcement
Administrative sanction for violations in the field of securities and securities market
3/27/20

On 31 January 2020, the State Securities Commission (SSC) issued Decision No. 76/QĐ-XPVPHC on administrative sanction for violations in the field of securities and the securities market of Mr Dang Hoang Tuan (Address: 317c / 9 Đường 91B, An Khánh ward, Ninh Kiều district, Cần Thơ city), as follows:

- A fine of 50,000,000 (Fifty million Vietnamese dongs) as prescribed in point b clause 1 Article 3, Point a clause 5 and clause 6 Article 27, of the Decree No. 108/2013/ND-CP dated 23 September 2013 of the Government stipulating on administrative sanctions in the field of securities and the securities market (Decree No. 108/2013/ND-CP) amended and supplemented in clause 1 and clause 35, Article 1 of the Decree No. 145/2016/ND-CP dated 01 November 2016 of the Government on amendments to the Decree No. 108/2013/ND-CP (Decree No. 145/2016/ND-CP).

For the following administrative violation: Did not report when owning 5% or more of the voting shares of a public company (Mr. Dang Hoang Tuan (Mr. Tuan) has made a purchase transaction of 150,000 shares of Sao Thang Long Investment JSC (the securities code: DST) on May 13, 2019, the total number of owned shares increased from 1,517,400 DST shares to 1,667,400 DST shares (corresponding to the post-trading holding ratio greater than 5% of the circulating volume), becoming a major shareholder of DST but not reporting when becoming a major shareholder).

- A fine of 15,000,000 (Fifteen million Vietnamese dongs) as prescribed in point b, clause 1, Article 3, and Point d, clause 4 and 6, Article 27 of the Decree No. 108/2013/ND amended and supplemented in clause 1 and clause 35, Article 1 of the Decree No. 145/2016/ND-CP.

For the following administrative violation: Did not report when there is a change in the number of shares exceeds the threshold of 1% of the number of shares (From May 24, 2019 to July 5, 2019, Mr. Tuan bought 738,000 DST shares, resulting in the post-trading holding ratio continuously exceeded the threshold of 1% of outstanding shares of DST (up from threshold of 5% to 6%, 7% and 8%) but do not report when ownership ratio exceeded the threshold of 1%).

The decision takes effect from the date of 31 January 2020.

SSC

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