The Board resolution dated January 15, 2020, the Boar of Directors of Kinh Bac City Development Holding Corporation (KBC) approved to receive the transfer of the whole of stake of Tan Hoang Minh Hotel and Service Trading Com Ltd in Hoa Sen Hotel Development Com Ltd with the transfer value of VND 1,854,868,000,000, equivalent to 100% charter capital of Hoa Sen Hotel Development Com Ltd.

   After the transfer completes, Kinh Bac City Development Holding Corporation will become the owner of Hoa Sen Hotel Development Com Ltd.

   To appoint Mr. Le Huy Vu as the representative of stake of KBC in Hoa Sen Hotel Development Com Ltd.