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Information Disclosure |
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 Information Disclosure
What information must a firm disclose?
Information which is likely to:
- have a significant effect on the market price of the firm's securities
- be important for investment decisions
- affect the interests of shareholde
When must a firm disclose information? |
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To ensure equitable access to information, disclosure must be made at least one hour prior to the commencement of each trading session, or after the close of the day's trading.
How must a firm disclose information?
To ensure market transparency and integrity, listed companies' information disclosures must always be full, accurate, adequate and timely for investor's investment decision-making. Firms are to simultaneously transmit data by facsimile and on-line through the SET Information Disclosure System, in both Thai and English.
If a company's information is disclosed during a trading session, the bourse is empowered to order a temporary prohibition of trading of its stock by posting the H (trading halt) or SP (suspension) sign on its securities until the company completely discloses this information to SET |
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Guidelines for Information Disclosure: Listed companies must disclose information within the periods specified below:
- Periodic disclosures:
| 1.1 |
Financial statements two copies to be submitted one in Thai and the other in English
- Unreviewed and unaudited financial statements (optional) to be submitted within 30 days of the end of an accounting period. If a listed company decides to proceed, it shall consistently follow the same practice.
- Reviewed quarterly financial statements (including consolidated statements if there are subsidiary companies) to be submitted within 45 days of the end of each quarter.
- Audited annual financial statements to be submitted within three months of the end of an accounting period. However, for the final quarter of the year, a company may elect to file an audited annual financial statement within 60 days, instead of filing financial statements for Q4. A firm wishing to do this must give prior notice to SET within 30 days of the end of the accounting period and before filing.
In addition, if the company's operational results have changed by more than 20% compared to the same period of previous year, it must explain the reason for the change to investors. |
| 1.2 |
Disclosure report concerning
additional information (Form 56-1)
one copies to be submitted to
the exchange as well as on-line
electronically through the SET system
within 90 days of the end of an
accounting period. This type of
report would cover events occurring
in the last period, such as significant
changes in the company , or its
business operations, board of directors,
shareholder structure, summary financial
status and operational results,
industrial conditions or business
risks.
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| 1.3 |
Annual report four copies with CD-ROM (if available) to be submitted to the exchange within 120 days of the end of the accounting period. This is the same deadline as sending the notification to shareholders for the annual general meeting (AGM). Where there are foreign shareholdings, a company must also prepare a report in English. |
In addition, the Exchange encourages listed firms to submit the report electronically
- Non-periodic disclosures:
Whenever an important event occurs, e.g., declarations of payment or non-payments of dividends, increases in capital, mergers and/or consolidation, or change in shareholder structure, companies must promptly disclose relevant information within a day of the event's occurrence or no later than 9.00 hours on the next business day. Any disclosure must be made at least one hour before each trading session. If the information is disclosed during trading hours, SET will post a trading halt (H) sign to stop trading of the firm's securities, and thus allow investors sufficient time to consider the information, before trading of the affected securities resumes.
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