SET Allows a 30-Day Temporary Trading for PACE and HYDRO!

The Stock Exchange of Thailand (SET) has announced a temporary 30-day trade for Pace Development Corporation Public Company Limited (PACE) and Hydrotek Public Company Limited (HYDRO).

 

This refers to the SP signs posted on the securities of HYDRO and PACE since March 3, 2020 as a result of their failure to submit their yearly 2019 financial statements which a three-month trading suspension is due on June 2, 2020. Both companies have not been able to timely submit the required statements to date.

 

In order to enable trading of their securities prior to the renewal of SP sign, SET will temporarily allow trading of HYDRO and PACE between June 4 and July 3, 2020 under the following conditions.

1) Investors are required to purchase through a cash balance account which means that the investors have to pay the full amount in cash prior to purchasing.

2) NC sign will be posted during such trading periods in order to alert the investors to be careful in trading securities.

3) SET will limit the ceiling and floor prices of HYDRO and PACE’s securities on the first trading day, which effective date is June 4, 2020 onwards, at 100% of their last trading prices. (In the event that there is no trading of such securities on June 4, 2020, the aforesaid ceiling and floor limit criteria will be valid until trading of the securities occurs). The ceiling and floor prices will subsequently be adjusted according to normal criteria from the next working day.

4) HYDRO and PACE’s securities will be excluded from the calculation of both SET and mai indices.

 

After the end of such trading period, from July 7, 2020onwards, SET will suspend trading on the said listed companies’ securities by posting SP sign until the companies are able to submit financial statements.

However, SET recommends investors to carefully study the said listed companies’ information such as financial positions, operating results, typeof auditor’s report, major shareholders, board of directors, historical news as well as risks and other related factors.

In addition, in order to provide service for the investors to access information, SET preliminary summarized information of the latest financial statements together with types of auditor’s reports and the latest annual registration statements (Form 56-1) that the companies disclosed via SET’s Disclosure system.