Bangkok--Oct 27--SET
SET Resumes Trading of TCJ's Securities & Transfers It to the Machinery and Equipment Sector
Executive Vice President of the Stock Exchange of Thailand (SET) Mr. Suthichai Chitvanich announced that the SET would transfer T.C.J. Asia Pcl.'s (TCJ) securities from the REHABCO sector to the Machinery and Equipment Sector
(Industrials Group) on November 7, 2005, and allow trading to resume from that date onward. TCJ is the third firm whose securities were returned to its regular sector this year,following those of Nakornthai Strip Mill Pcl.(NSM) and K.C. Property Pcl. (KC)
Mr. Suthichai reported, "As noted in TCJ's letter requesting approval to
transfer to the Machinery and Equipment Sector, the company has been disclosing
its net operating profit from its core business for three consecutive quarters
(starting with Q4/2004, ending December 31, through Q2/2005, ending June 30).
TCJ's financial statements, as of June 30 2005,showed a positive shareholder's
equity of THB 652 bln. The company has also successfully completed its debt
restructuring and TCJ has been able to demonstrate both its strong financial
position and performance on a continuous basis."
TCJ's strategic shareholders, who hold collectively 51,140,808 shares,
(par value is 10 Baht per share) or 91.73% of the total outstanding shares, have informed the SET that they will not sell their securities for at least one year from the day that TCJ resumes trading. (The SET prohibits them from selling more than 25% of their shares during the first six months after trading resumes, while over the next six months, they may sell up to an additional 25 %.), " the SET EVP said.
Mr. Suthichai emphasized to the other companies preparing to leave the
REHABCO sector that they had to:
1. Show a positive shareholder's equity (after adjustments in accordance with the auditor's opinion) when leaving the REHABCO sector;
2. Have a net operating profit from the company's core business for three consecutive quarters or one year before submitting the application for reinstatement;
3. Have successfully restructured over 75% of the company's total debt and be able to settle debts on time; and:
4. Be able to demonstrate the company's strong financial position and performance on a continuous basis as supported by the company's cash flows.
To allow the market mechanism to work freely, the SET will temporary
lift the ceiling and floor limits on TCJ's securities on November 7, 2005.
Note: Please see TCJ's Information Message currently being disseminated on the SET Market Analysis and Reporting Tool (SETSMART)
For more information, please contact S-E-T Call Center Tel. 0-2229-2222 E-mail: [email protected] End.