Bangkok--May 12--SET
Executive Vice President of The Stock Exchange of Thailand (SET) Mr. Suthichai Chitvanich announced that the SET Board of Governors had approved a process for terminating the REHABCO (Rehabilitation) Sector. In order to minimize possible impacts to investors, there will be gradual steps taken in this process, including posting of “C” (or “Compliance”) signs on REHABCO securities, suspending trading, and delisting securities that cannot be reinstated to their normal sectors by early next year.
The above measures are in accordance with the SET Board’s resolution on March 26, 2003, which stipulated that the SET Board may consider delisting any firm which was unable to be reinstated back to its normal sector by March 27, 2006. As this deadline is approaching, in order to minimize any possible impacts on REHABCO stock trading as well as to make the procedures clear to all, the SET Board has resolved that the SET should take the steps outlined below.
As of May 11, 2005, there were a total of 45 listed companies in the REHABCO Sector. Ten of these companies may now be actively traded, while the other 35 may not be.
For the active companies in the REHABCO Sector, these steps will be taken:
1. A “C” sign will be posted on the securities starting from June 1, 2005 to notify investors that careful consideration should be taken.
2. The firm’s shares will be suspended from trading if its shareholders’ equity (after adjustment according to the auditor’s comments) is less than zero, or if it has losses from operations. Financial information from the companies’ quarterly statements, not their annual ones, will be considered; starting from the statements for the period ending September 30, 2005.
Mr. Suthichai went on to say that for the due date of March 27, 2006, audited or reviewed consolidated financial statements ending December 31, 2005, would be considered.
Listed firms which could not be reinstated to their normal sectors by March 27, 2006, would face the following measures.
1. Those which had been in the REHABCO Sector for 2 years or more will be nominated for delisting.
2. Those which had been in the REHABCO Sector for less than 2 years will be given the remaining time left in their two year rehabilitation period, commencing from when they first moved to this sector. Their securities will be moved to their respective normal sectors, with the “C” sign posted. Trading of these securities would be suspended until these firms no longer face delisting or the SET Board ordered their delisting.
Mr. Suthichai added that it is possible that some active companies in the REHABCO Sector might be suspended after submitting their financial statements for the period ending September 30, 2005.
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.