Regulations on Information Disclosure by Major Shareholders, Internal Persons, and Related Persons of Internal Persons
22-01-2026
Pursuant to:
-
- The Law on Securities No. 54/2019/QH14 dated 26 November 2019 of the National Assembly, and its relevant amendments and supplements;
- Circular No. 96/2020/TT-BTC dated 16 November 2020 of the Ministry of Finance, and its relevant amendments and supplements;
I. INFORMATION DISCLOSURE BY INTERNAL ACTORS AND THEIR AFFILIATED PERSONS
| Type of information disclosure | Disclosure timeline | Requirements | |
| Disclosure prior to securities transactions | No later than 03 working days prior to the execution of the transaction | Internal persons of public companies, public securities investment companies and public funds (including: Chairperson of the Board of Directors, Chairperson of the Members’ Council or Company Chairperson; members of the Board of Directors or Members’ Council; legal representative; General Director (Director) and Deputy General Director (Deputy Director); Chief Financial Officer; Chief Accountant; and other equivalent managerial positions elected by the General Meeting of Shareholders or appointed by the Board of Directors, Members’ Council or Company Chairperson; Head and members of the Supervisory Board (Controllers); members of the Internal Audit Committee; Company Secretary; person in charge of corporate governance; authorized information disclosure person; members of the Representative Board of a public fund; members of the Board of Directors of a public securities investment company; managers of public funds; managers of public securities investment companies; and internal persons of securities investment fund management companies), and their related persons, shall disclose information and submit reports before and after the transaction to the State Securities Commission, the Stock Exchange (for listed or registered trading shares and listed public fund certificates), public companies and securities investment fund management companies, where: (i) the estimated transaction value in a day is VND 50 million or more, or (ii) the estimated transaction value in a month is VND 200 million or more, calculated based on face value (for shares, convertible bonds and fund certificates), the most recent offering price (for covered warrants), or the transfer value (for rights to purchase shares, convertible bonds or fund certificates), including transactions conducted outside the Stock Exchange trading system (such as donation, inheritance, transfer or receipt of securities, and other cases) | In accordance with Appendix XIII or Appendix XIV of Circular 96/2020/TT-BTC |
| Disclosure of transaction results | No later than 05 working days from the date of transaction completion or the end of the registered transaction period | In accordance with Appendix XV or Appendix XVI of Circular 96/2020/TT-BTC | |
II. INFORMATION DISCLOSURE BY MAJORITY SHAREHOLDERS
| Type of information disclosure | Disclosure timeline | Requirements | |
|---|---|---|---|
| Report on becoming or ceasing to be a major shareholder | Within 05 working days from the date of becoming or ceasing to be a major shareholder | For individuals and organizations | In accordance with Appendix VII of Circular 96/2020/TT-BTC |
| For groups of related persons holding 5% or more of voting shares of a public company or public securities investment company; investors or groups of related persons holding 5% or more of fund certificates of a closed-end fund; groups of related foreign investors holding 5% or more of voting shares of an issuer or 5% or more of fund certificates of a closed-end fund | In accordance with Appendix IX of Circular 96/2020/TT-BTC | ||
| Report on changes in ownership of a major shareholder (upon changes crossing 1% thresholds of outstanding voting shares) | Within 05 working days from the date on which the ownership ratio changes across the 1% thresholds | For individuals and organizations | In accordance with Appendix VIII of Circular 96/2020/TT-BTC |
| For groups of related persons holding 5% or more of voting shares of a public company or public securities investment company; investors or groups of related persons holding 5% or more of fund certificates of a closed-end fund; groups of related foreign investors holding 5% or more of voting shares of an issuer or 5% or more of fund certificates of a closed-end fund | In accordance with Appendix X of Circular 96/2020/TT-BTC | ||
– JAPAN SECURITIES CO., LTD. –