ECF Bounces 6.5%, Asserting no Significant Development on STREK Deal as Rumored
After a slump of 54% in five days, ECF finally emerges after asserting that there is no any information or significant development ECF have not been disclosed.
At 11:00 in Thailand, East Coast Furnitech Public Company Limited (ECF)’s shares hike 6.47% to ฿2.96/share, the highest at ฿3.10/share and the lowest at 2.88/share with 170 million in value. ECF has been plunging five days straight for more than 54%, but the surge comes after the company asserted through the Stock Exchange of Thailand that there was no any information or significant development ECF have not been disclosed.
Referring to the disclosed significant development of the Company to The Stock Exchange of Thailand, now the Company is on the preparation process to propose the Shareholders’ Meeting to consider approving the Company and/or its subsidiaries to invest in the ordinary shares of S-TREK (Thailand) Co., Ltd. (S-TREK) in the proportion of not exceeding 51% of the total issued shares of the Company by purchasing from the existing shareholders i.e. Mr. Jirasak Prempojwattana by the method of share swap, together with the preparation of the Independent Opinion Report to the Shareholders about such investment which is prepared by the independent financial advisor i.e. I V Global Securities Public Company Limited.