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Novaland's board of directors has amended the AGM meeting materials related to the plan to issue shares. The number of shares to be issued has been raised from a maximum of 350,000,000 shares to a maximum of 800,000,000 shares, resulting in an increase in the maximum mobilized capital from VND 3,500 billion to VND 8,000 billion. Regarding the issuance price mechanism, instead of a fixed price of VND 10,000 per share as in the old plan, Novaland moved to a more flexible pricing method. Specifically, the issue price will not be lower than 75% of the average closing price of NVL shares over the last 30 trading sessions up to the date of board approval of the plan. Novaland leadership said this adjustment is based on the current financial market conditions to increase feasibility of the issue. The expected implementation time is in 2026, continuing the private share issuance plan approved by Resolution 10/2025. In addition to private placement, Novaland confirmed it will continue implementing a plan to issue shares to swap the principal debt of bonds in 2026. Previously, in 2025, the company could not implement this plan due to lack of agreement from bondholders. The Board will continue pursuing this plan to support the group's financial restructuring. Additionally, updated documentation shows that Novaland announced 3 candidates to the Board of Directors to replace members whose terms expire this year. The list includes Mr. Bui Cao Nhat Quan (born 1982), the son of Chairman Bui Thanh Nhon. The other two candidates are Mr. Pham Tien Van—currently an independent board member of NVL—and Mr. Hoang Duc Hung—Chairman of CGS Vietnam Governance Consulting, and also an independent director at several companies such as Binh Thuan Plastic Group and Imexpharm (HOSE: IMP), etc. Novaland is also intensifying its capital plan. It added a proposal to issue up to nearly 167.6 million bonus shares at a rate of 40:3, meaning shareholders owning 40 shares will receive 3 new shares. The planned execution time is in 2026 or as determined by the Board. In addition, the 2026 ESOP plan is expected to involve more than 111.7 million shares, representing 5%, with a minimum price of VND 10,000 per share, far lower than the closing price of VND 18,200 as of the morning of 22/4. If completed, the company could mobilize over VND 1,117 billion. These shares will be non-transferable for at least one year. Novaland also plans to hold the AGM on the afternoon of 23/04 at Clubhouse - NovaWorld Phan Thiet Golf Club Hòn Giồ - Thuận Quý, Tiến Hòa hamlet, Tiến Thành ward, Lâm Đồng province.
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