Bangkok--Mar 21--SET
The Stock Exchange of Thailand (SET) has established procedures and guidelines for listed company to be transferred to the category named Companies Under Rehabilitation (REHABCO) by considering Listed company's financial statements showing negative shareholders' equity on its balance sheet. However, it should be noted that any unrealized losses that occurred as a result of the of 1997 change in the exchange rate system can be used to adjust its shareholders' equity. In addition, in case the auditor has issued a qualified opinion, or a disclaimer, or an adverse opinion on the financial statements, the SET may consider the financial condition of the listed company by including the adjusted condition from the auditor's report. If company shareholders' equity is less than zero, the SET will transfer the listed company to the REHABCO category.
The SET has considered the audited annual financial statements ending 31 December 2004 filed by Hantex Public Company Limited (HTX). As a result that HTX is subjected to rehabilitation plan preparation because of reporting negative shareholders' equity.
HTX' shareholders' equity is now negative, based upon its audited annual financial statements ending 31 December 2004.
Therefore,as required by the Rule Governing Delisting of Securities (1999):
1. As noted above, the SET announces that HTX must bring its condition up to standard in order to be reinstated, and hereby
suspends its securities effective from 18 March 2005.
2. The SET will transfer its securities to REHABCO sector on 21 March 2005 and temporarily post an SP(suspension) sign for 30 days from the date of announcement to 18 April 2005 to suspend further trading. This is to give the HTX' management time to make prudent decisions that benefit all parties concerned.
3. HTX must inform the SET by 18 April 2005 Whether it will (a) proceed with its rehabilitation plans under the Bankruptcy Act, (b) ask for voluntary delisting, or (c) try other options which will benefit all stakeholders involved. HTX must also provide the SET with a schedule for implementing its decisions.
4. After it disseminates the company' decision, the SET will allow trading of HTX'securities under the REHABCO category from 19 April 2005 to 18 May 2005. This is to allow all shareholders to trade the securities before further suspension while the firm implement its rehabilitation plans.
5. The SET will post "SP" (suspension) signs to prohibit the trading of HTX from 19 May 2005 until the problems has been solved.
The SET requests that all shareholders and general investors study the firm' complete set of financial statements and follow up the progress of its rehabilitation through the SET information system. End.