The company has informed the State Securities Commission about the change.

However, Mr. Thang still has the rights and obligations of a member of the Board of Directors of FLC Group in accordance with the law and the company's charter until the General Meeting of Shareholders approves his resignation.

After FLC Group’s Chairman Trinh Van Quyet was arrested, Thang - as Deputy General Director of FLC Group - took over the chairmanship of the Board of Directors of FLC Group and Bamboo Airways.

In related news, the Ho Chi Minh City Stock Exchange has announced that it will suspend trading of FLC shares due to violations of regulations on information disclosure.

As of August 15, the firms had not organized an annual general meeting and publicized their audited 2021 financial reports, and failed to select a firm for auditing their business operations in the 2021-2022 period.

Pursuant to the listing regulations, stocks will be suspended if issuing firms delay sending their audited financial statements for over six months or repeatedly violate regulations on information disclosure after restrictions are imposed on their trading.

The FLC stock has been restricted for trading since June 1. The two firms are trading their shares only in the afternoon phase.

HOSE also asked FLC to explain their plans to hold their annual shareholders’ meetings and choose auditing firms prior to August 19.

On August 12, ROS, which is linked to the FLC Group, was suspended from trading.

Ngoc Cuong