2023-06-19 01:58:13
Stock Exchange of Thailand Notification of action to Plc. Stark Corporation (STARK) if the shareholders’ equity is less than zero. And ask investors to exercise caution in trading STARK securities.
The SET revealed that Stark Corporation Public Company Limited (STARK) was unable to submit the financial statements for the year 2022 and the financial statements for the first quarter of the 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 by the Stock Exchange of Thailand 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-compliance) sign posted
However, in respect of the posting of the SP (Suspension) sign to prohibit the purchase or sale of STARK securities in the event that STARK securities are subject to possible delisting. As a result of the shareholders’ equity is less than zero. Because STARK securities are allowed to be traded temporarily between 1 – 30 June 2023.
Therefore, the stock market will post an SP (Suspension) sign to prohibit the purchase or sale of STARK securities once more 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 proceed to qualify the company to return to normal trading.
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 action to be disclosed to shareholders and investors by July 19, 2023.
3. Instruct STARK to speed up rectifying the cause that may be subject to revocation. from the shareholder’s equity is less than zero To be exhausted within 3 years from June 19, 2023, if the deadline has expired, STARK has not been able to resolve the grounds that may be revoked. SET may consider further 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) following 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 once more 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 Summary of special audit results and other information related to STARK
Incidentally, STARK submitted the 2022 financial statements on June 16, 2023, reporting a heavier loss of 6.6 billion baht, a loss per share of 0.5393 baht, and changing the 2021 budget to change to a loss of 5,965 million baht, a loss per share of 0.501 baht. 2.8 billion baht following the auditor found several irregularities and the financial statements at the end of the year 2022, shareholders’ equity was negative 4,403 million baht.
By InfoQuest News Agency (19 June 2023)
Tags: STARK, SET, Stark Corporation, Thai stocks
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