SET Lifts “H” Sign from TPIPL after a Clarification of an Internal Restructure

In reference to the Stock Exchange of Thailand (SET) ordered securities trading Halt (H) of TPI POLENE PUBLIC COMPANY LIMITED (TPIPL) in morning session, as a significant information concerning the big lot transactions of 9,080,416,000 shares or 47.34% of its paid-up capital.

 

TPIPL made a clarification that on April 1, 2020, Leophairatana Enterprises Co., Ltd., which is under the Leophairatana group, has sold TPIPL shares totaling 4,540,208,000 at 1.11 baht per share to Thai Petrochemical Industry Co., Ltd., which has Leophairatana group as a major shareholder and majority control. The purpose of transaction was for accounting management and adjustment.

 

On the same day, Leophairatana Enterprises Co., Ltd. bought back TPIPL shares at the same price and same number of shares from  Thai Petrochemical Industry Co., Ltd., therefore there is no change in shareholding and management control in TPIPL and the transaction was not required to make tender offer.

 

Therefore, after TPIPL released the clarification statement, SET decided to lift a temporary “Halt” sign off TPIPL and allow to resume its trading activities.