01/11/2022 | Press release | Distributed by Public on 01/10/2022 20:57
According to the announcement of the Stock Exchange of Thailand (SET) that Inter Far East Energy Corporation Public Company Limited (IFEC) is subject to possible delisting as the auditor issues a disclaimer opinion on the financial statements for 3 consecutive years. Currently, IFEC has already removed the cause of possible delisting as mentioned above by submitting the financial statements for the year ended 2020 which the auditor expressed qualified opinion. Therefore, SET announces that IFEC has entered the period for the repossession of qualifications in order to resume trading (Resume Stage) which IFEC must take actions to repossess the qualifications in order to resume trading within January 6, 2024 . If IFEC is unable to repossess the qualifications in order to resume trading within the specified period, SET may consider delisting the company's securities accordingly. However, IFEC is still during the period for the elimination of the grounds for delisting about performance and financial position as the audited financial statements show that the equity is negative and also during the period for the repossession of qualifications in order to resume trading (Resume Stage) from failure to submit the financial statements within specified deadline. Consequently, IFEC still has duty to eliminate all causes of delisting, including to repossess the qualifications in order to resume trading within specified periods for each cause. In addition, the timeline for IFEC is summarized as follows. - Period for the repossession of qualifications in order to resume trading (Resume Stage) o As the company submitted the late financial statements: The company must repossess the qualifications in order to resume trading within April 1, 2022. o As the auditor expressed opinion to the financial statements: The company must repossess the qualifications in order to resume trading within January 6, 2024. - As the company's equity is negative: The company must eliminate the ground for delisting within April 15, 2022. ______________________________________________________________________