Kim Long Securities fails to make quorum

Kim Long Securities Co failed to secure a quorum for its second general shareholders meeting yesterday.

Only 28.55 per cent of shareholders attended, according to a source present at the meeting, while the Law on Securities requires a minimum quorum of 51 per cent.

The firm, which recently stirred controversy for announcing last month its withdrawal from the brokerage business only to subsquently reverse the decision, will now convene a third meeting next Thursday, which will not be subject to a quorum requirement under the law.

KLS shares yesterday closed unchanged at VND9,600.

Tags: Kim Long Securities

Posted by VBN on Apr 16 2011. Filed under Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry