Announcement resignation and appointment of Directors for immediate release

22/06/2020 15:22

Ho Chi Minh City, 22 June 2020

The Board of Directors (“BOD”) of Coteccons Construction Joint Stock Company (“Coteccons”), Vietnam’s leading construction company, today announced the resignation of Mr Nguyen Sy Cong and Mr Tran Quyet Thang from the BOD. The BOD of Coteccons would like to appreciate Mr Nguyen Sy Cong and Mr Tran Quyet Thang for their services and contributions as Board members. We wish Mr. Thang and Mr. Cong health and success.

The BOD of Coteccons also announces the appointment of two temporary BOD members, Mr Bolat Duisenov and Mr Herwig Guido H. Van Hove to replace the resigned BOD members for the remaining of the current BOD term 2017-2022. Their appointments are subject to shareholders’ approval in the coming Annual General Meeting on 30 June 2020.

The BOD of Coteccons has made important progress towards resolving the concerns on corporate governance and will take all necessary measures, in the best interest of Coteccons shareholders, employees and customers, to restore Coteccons to its stability and leadership in the construction sector in Vietnam.

We would like to extend our deep gratitude and look forward to receiving the continued supports from relevant government authorities, partners, employees and customers.

About the new BOD members

Mr Bolat Duisenov is an investment professional with over 18 years of experience, including 12 years in Vietnam. He is a founding partner and CEO of Kusto Vietnam. He has extensive experience in investment advisory, banking and real estate developments in Kazakhstan, Ukraine and Russia.

Mr Herwig Van Hove has been an active investor for 20 years with global financial institutions, including Citibank and Morgan Stanley. He is currently CEO of VAHOCA and Co-portfolio Manager of the INSEAD Alumni Venture Fund and Director of The8th Pte Ltd.



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