News Detail

Date/Time
28 Aug 2018 09:05:00
Headline
SET requires IFEC to clarify information regarding to the creditor has filed a rehabilitation petition to the Central Bankruptcy Court
Symbol
SET
Source
SET
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An important information that shareholders and public investors should concern 
before making any voting or investing decisions.
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Information analysis

Subject                                  : Reminding investors to analyze 
Information
Security Symbol
  - INTER FAR EAST ENERGY CORPORATION PUBLIC COMPANY LIMITED (IFEC)
Remark                                   :
As Inter Far East Energy Corporation Public Company Limited (IFEC) disclosed 
information to the SET on August 27, 2018 that a creditor has filed a
rehabilitation petition to the Central Bankruptcy Court, the Court has accepted
such petition and appointed the date of examination on October 29, 2018 (Details
 as shown on IFEC's news on August 27, 2018).

Since the rehabilitation petition through the court significantly affects to the
shareholders' benefits, the SET requires IFEC to clarify additional information
 via the SET Disclosure system within August 30, 2018 as follows.

1.    Details of the creditor who files a rehabilitation petition consisting of 
name, amount of debt that IFEC has obligation with that creditor, when and how
that person starts being the company's creditor? If the debt was transferred
from another creditor, please specify the name of transferor, including the
relationships between the creditor, who has filed a rehabilitation petition, and
the transferor with the company, the previous and current IFEC's shareholders,
directors, and management (if any).

2.    Significant information of the rehabilitation petition such as the date of 
application, the reason why the creditor files a rehabilitation petition, the
amount of debts that has been filed for rehabilitation, method for
rehabilitation, and a plan preparer's name (if any). Also, please specify the
relationships between a plan preparer, the creditor and the company.

3.    As the financial statements for the year ended 2016, which is the latest 
financial statements submitted to the SET on August 28, 2017, shows that IFEC
has total assets at THB 12,630 million, total liabilities at THB 9,344 million
and the shareholders' equity at THB 3,227 million, please clarify the current
financial positions and operating results whether the company is insolvent.

4.    Procedures and timeline that the company has to take actions with the court 
after a rehabilitation petition has been filed.
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