Ladophar fined for disclosure violations on major shareholders

The State Securities Commission has announced an administrative fine of 55,000,000 Vietnamese dong against Lam Dong Pharmaceutical JSC (Ladophar) for failing to report information correctly and on time regarding its major shareholders. This penalty is based on a violation of Clause 6, Article 33 of Decree No. 156/2020/ND-CP, as amended by Clause 27, Article 1 of Decree No. 128/2021/ND-CP.

The violation stems from Ladophar's failure to report changes in its ownership status, specifically when its holdings reached 5% or more of voting shares and when it ceased to be a major shareholder. The company became a major shareholder (5.27%) on June 26, 2024, ceased to be one (0%) on June 28, 2024, and then became a major shareholder again (6.02%) on July 1, 2024, with reports received by the Hanoi Stock Exchange on July 15, 2024.

The fine amount falls within the average range for such violations. The decision considers both aggravating circumstances (repeated violations) and mitigating factors (voluntary disclosure and cooperation from the company). Ladophar is required to pay the fine to State Treasury Area I within 10 days of receiving the decision.