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TCB: Approving agreements with related persons

Sep 27th at 17:46
27-09-2021 17:46:57+07:00

TCB: Approving agreements with related persons

On September 23, 2021, the Board of Directors of Vietnam Technological and Commercial Joint Stock Bank (Techcombank) approved agreements with the persons related to insiders and major shareholders of Techcombank, as follows:

1)      Approving to grant credit limits to Vincommerce General Commercial Services Joint Stock Company (Vincommerce) and Vineco Agricultural Investment Development and Production LLC (VinEco) and approving to sign agreements and relevant documents among Techcombank, Vincommerce and VinEco.

-          Credit limit: VND1,150 billion;

-          Purpose: to raise funds for business activities

-          Loan term: 12 months

2)      Approving the guarantee agreement signed between Techcombank and VCM Services and Trading Development Joint Stock Company (VCM), a company related to Techcombank’s insider. VCM is the guarantor for the credit of VinEco.

3)      Approving the guarantee agreement signed between Techcombank and Vincommerce, a company related to Techcombank’s insider. Vincommerce is the issuer of shares which are used as collateral for the credit of VinEco.

4)      Approving the guarantee agreement of Masan Consumer Corporation for all financial obligation of Vincommerce arising from the credit agreement above, as a guarantor.

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