Bangkok 19 Jun-SET Notify STARK in case the shareholder’s equity is less than zero. And ask investors to exercise caution in trading STARK securities as Stark Corporation Public Company Limited (‘STARK) cannot submit the 2022 financial statements and the 1st quarter financial statements. year 2023 within the specified period.
The Stock Exchange of Thailand (SET) notifies STARK in case the shareholder’s equity is less than zero. And ask investors to exercise caution in trading STARK securities as Stark Corporation Public Company Limited (‘STARK) cannot submit the 2022 financial statements and the 1st quarter financial statements. year 2023 within the specified period. Until causing the stock market Post an SP (Suspension) sign to prohibit the purchase or sale of STARK securities from March 1, 2023.
On June 16, 2023, STARK submitted the financial statements for the year 2022, audited by an auditor, to the SET. And it appears that the shareholders’ equity in 2021 (revised) and 2022 are less than zero in the amount of 2,895 million baht and 4,415 million baht, respectively, resulting in STARK securities being subject to possible delisting according to the regulations of the SET. Regarding the delisting of listed securities in order to comply with the regulations of the Stock Exchange of Thailand Regarding the delisting of listed securities and announcement of the Stock Exchange of Thailand Regarding Procedures for Resolving the Causes of Delisting of Ordinary Shares from Listing Securities
SET will proceed as follows
1. Announcement that STARK securities may be subject to possible delisting from the shareholder’s equity is less than zero
from June 19, 2023 onwards, with the NC (Non-compiance) sign posted.
may be revoked As a result of the shareholders’ equity is less than zero. Since STARK securities are allowed to be traded temporarily between 1 – 30 June 2023, therefore, the SET will post an SP (Suspension) sign to prohibit the purchase or sale of STARK securities again from July 1, 2023 until the company is able to resolve the grounds that may be delisted from the cause of shareholders’ equity being less than zero and proceeding to qualify the Company to return to trading as normal
2. Have STARK disclose guidelines for resolving the grounds that may be subject to revocation. from the shareholder’s equity is less than zero along with the deadline for such actions to be communicated to shareholders and investors by July 19, 2023.
3. Instruct STARK to speed up rectifying the cause that may be subject to revocation. Since the shareholders’ equity is less than zero, it will be eliminated within 3 years from June 19, 2023. If the deadline has expired, STARK has not been able to resolve the aforementioned grounds that may be revoked. SET May consider proceeding with delisting of STARK securities
This is because the stock market has temporarily opened for buying or selling STARK securities for a period of 1 month (from June 1 – 30, 2023) after STARK securities have been posted an SP sign for a period of 3 months due to STARK not submitting financial statements 2022 within the specified period, so the SET Will not allow the purchase or sale of STARK securities again as STARK securities are subject to possible delisting this time.
SET Investors are requested to exercise caution in trading STARK securities by studying the details of the full financial statements. Auditor’s Report Disclaimer on the Financial Statements Causes and management methods of the company Summarizes the results of a special audit (special audi) and any other information related to STARK.-Thai News Agency
Source: Thai News Agency