SET Urges IFEC to Submit Financial Statement to Avoid Delisting on December 31!
SET Urges IFEC to Submit Financial Statement to Avoid Delisting on December 31, 2020.
According to SET’s announcement that Inter Far East Energy Corporation Public Company Limited (IFEC) is subject to possible delisting from failure to submit the financial statements within specified deadlines.
Currently, the due date to eliminate the grounds for delisting is almost due since IFEC must submit the financial statements of Q1/2017 to Q1/2019 which have been reviewed or audited by the auditor who was appointed by the shareholders’ meeting within December 31, 2020.
Therefore, SET has informed IFEC to urgently eliminate the grounds for delisting. If IFEC is unable to eliminate the grounds for delisting within a specified period, SET will propose to the SET’s Board of Governors to consider delisting the companies’ securities accordingly.
In addition, in the event that a listed company faces possible delisting due to failure to submit many financial statements which require different periods of time for rectification, SET will separately consider each of the grounds.
On this basis, SET will commence the delisting procedure for the ground with the nearest expiry date for resolving the ground for possible delisting or for meeting qualifications to resume trading.