Stock Exchange Of Thailand To Improve Listed Companies Minor Shareholdings Distribution

Mr. Surat Palalikit, Executive Vice President of the Stock Exchange of Thailand (SET), disclosed that SET Board of Governors, on its extraordinary meeting on 23 May 2001, required the SET to consult with the Listed Companies Association in order to find ways of encouraging listed companies to increase minor shareholdings distribution to be greater than 10% of the paid-up capital.

"Additionally, to encourage existing listed companies to distribute its shares to minor shareholders, SET will not extend the deadline regarding delisting rules, scheduled on 30 June 2001, for listed companies who have less than 150 small ordinary shareholders holding in aggregate less than 10 per cent of the paid-up capital and the trading volume of the listed companies per year being less than 10 per cent of the paid-up capital for 2 consecutive financial years. However, any listed company that cannot successfully apply to this rule will not be delisted immediately, but the company will have to rapidly improve its qualifications. In addition, the SET will consider the time available for listed companies to follow through with this regulation, and if the company is unable to comply, the SET will proceed accordingly." said Mr. Surat.