Diamond Properties does not sell all 2.2 million NVL shares as registered; sells 930,800 NVL shares in March and trims stake to 7.63%

From March 17 to March 19, 2026, Diamond Properties completed an on-market sale of 930,800 NVL shares, out of 2.15 million NVL shares registered. The sale was not fully executed due to a change in plan.

Diamond Properties reduces NVL stake

As a result, Diamond Properties reduced its holding from nearly 171.4 million NVL shares (7.67%) to 170.46 million shares (7.63% of charter capital).

Mr. Bui Thanh Nhon, Chairman of the Novaland Board, is also the Business Manager of Diamond Properties.

Previously, Diamond Properties had registered to sell the same number of shares between January 29, 2026 and February 27, 2026, but the trades were not executed due to plan changes. Consequently, the company still held 171.4 million NVL shares at that time, equivalent to 7.679%.

Novaland sets 2026 AGM; outlines business and capital plans

Separately, Novaland will hold its 2026 annual general meeting of shareholders on the afternoon of April 23, 2026 at Clubhouse - NovaWorld Phan Thiet Golf Club (Hon Gi o - Thuan Quy, Tien Hoa village, Tien Thanh ward, Lam Dong province).

2026 targets and dividend policy

Based on newly released meeting materials, Novaland targets 2026 revenue of VND 22,715 billion and after-tax profit of VND 1,852 billion. This implies revenue of more than three times and a 0.5% decline in profit versus 2025 results.

Novaland has no plans to pay dividends in 2025 or 2026.

Share issuance proposals

Regarding the share issuance plan, Novaland’s 2025 report states the company did not carry out a private placement or issuance to swap debt. The Board proposes that the 2026 AGM approve continuing and adjusting these plans.

For private placement, management said it will continue to seek long-term investors aligned with specified criteria.

For the plan to issue shares to swap debt, Novaland stated it has not reached consensus with bondholders, so it cannot proceed. The debt-swap issuance plan remains unchanged, while the private placement plan is adjusted to increase the number of shares from 350 million to up to 800 million.

The intended execution time is in 2026 or another time as decided by the Board. The issue price will not be lower than the average closing price of NVL over the 30 consecutive sessions after and including the AGM date; it may be adjusted downward if events lead to price adjustments. Under the old plan, the issue price was VND 10,000 per share.

Novaland said the increase in the number of private placement shares is intended to optimize the issue price and shareholder value given the current stock market and financial conditions.

Board reshuffle proposed

On personnel matters, the AGM will dismiss three Board members at the end of their term, including Chairman Bui Thanh Nhon and two independent Board members, Pham Tien Van and Hoang Duc Hung.

Novaland proposes a Board structure of five members, including one independent member. The AGM will elect two new Board members and one independent member. The remaining two Board members, Mr. Duong Van Bac and Mrs. Pham Thi Hong Nhung, will continue in their current terms.