รายละเอียดข่าว

วันที่/เวลา
26 มิ.ย. 2560 09:14:00
หัวข้อข่าว
SET has remained SP sign and posts NP sign on EARTH's securities in case of SEC has ordered EARTH to arrange special audit (Update Template)
หลักทรัพย์
EARTH
แหล่งข่าว
SET
รายละเอียดแบบเต็ม
คลิกที่นี่เพื่อดาวน์โหลดรายละเอียดข่าวรูปแบบเต็ม
                Sign posted

Subject                                  : Notice pending (NP) sign posted
Security Symbol
  - ENERGY EARTH PUBLIC COMPANY LIMITED (EARTH)
Sign posted                              : NP
Sign posted on (date) (Update)           : 27-Jun-2017
Reason                                   :
SEC has ordered EARTH to arrange special audit.
Remark                                   :
According to The Stock Exchange of Thailand (SET) has suspended trading (SP) on 
Energy Earth Public Company Limited (EARTH) securities effective from 15 June
2017 because the company has informed the default of debt which resulted in the
default of the bond amount THB 5,500 million that will affect to the company's
operation and financial position. On June 20, 2017, EARTH has clarified that the
mentioned default of debt resulted in the company to run more business with
cash. These affected to the company's financial liquidity management toughly and
its business has been slowed down. Hence, the company's financial position and
operating result will depend on the respite consideration and agreement with the
creditors which the company has not clearly clarified whether the company can
run its business at the present and how.
            On June 23, 2017, the Securities and Exchange Commission (SEC) has 
ordered the company to arrange an auditor for doing special audit about the
transactions of advance payment for purchase of goods and payment for the right
to purchase of goods because EARTH's core business is coal trading which
liquidity management is important and the company's source of funds are from
loan and debenture to pay advance payment for purchase of goods and the right to
purchase of goods. Such items have been significantly increased and it's the
company's main asset (Increased from the year 2015 amount 58 percent and the
outstanding is 45 percent of total asset). SEC opined that the corrected of
these transactions are significant to the shareholders and the investors
including those are the main point to support fundraising in order to recover
its business. SEC orders the company to submit the result of special audit to
SEC as well as disclose such information via SET's information disclosure system
 within 30 days.
(Details as shown in the company's news on June 7-9, 15 and 21, 2017 and SEC's 
news on June 23, 2017)
            Therefore, SET has remained SP sign and posts NP (Notice Pending) 
sign on the securities of EARTH since June 27, 2017 until the company could
submit the result of special audit and the clarification as required by SET
completely and clearly because that information is significant which might
affect to the company's business operation, financial position and operating
result as well as investment decision.
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