Bangkok--29 Jan--SET
Rules and regulations governing Thai-listed securities have been brought in line with those recently changed by the Thai SEC. These revisions by The Stock Exchange of Thailand Board of Governors (SET BoG) will reduce redundancy, making it easier for listed firms to comply with them, SET Executive Vice President and BoG Secretary Suthichai Chitvanich noted.
Details are summarized below:
1. The existing regulations on the proportion and qualifications of independent directors have been extended to another year. This will give companies more time to select such directors and ensure that they meet the standards required.
2. The existing regulations requiring listed companies planning to offer their shares to the public to obtain the approval of the shareholders of the company itself and its subsidiaries on any connected transactions and acquisition and disposition of assets are rescinded. This termination is because SEC has cancelled its regulations on the matter and now requires listed firms to comply with the Securities and Exchange Act B.E.2535, as revised.
3. The existing regulations governing actions which firms that are acquired must take are rescinded. This termination is because the required steps are now specified in the SEC announcements.
4. Regulations on the acceptance and disclosure of warrant offerings to existing shareholders have been revised to align with SEC’s revised regulations on the offer for sale process.
The BoG has also given approval in principle to amend rules supporting the trading of derivative warrants (DWs) on the Exchange this year, by asking SET management to draft the necessary regulations and seek the opinion of SET members on the issue.
For more information, please contact Public Relations Unit, the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 / Panitee Chatpolarak Tel: 0-2229-2792