MPIC Aims to Remove “C” Sign by Reducing Registered and Paid-Up Capital
MPIC has announced its plan to remove the C caution sign by reducing registered and paid-up capital, and transfer of appropriated legal reserve and share premium.
M Pictures Entertainment Public Company Limited (MPIC) has reported the plan and method in solving C caution due to shareholders’ equity is less than 50% of paid-up capital for the financial statement of 3Q18 ended on September 30, 2018. The summary of the meeting details as follow;
- To transfer of appropriated legal reserve and share premium to compensate the accumulated loss of MPIC.
- To reduce of the registered and paid-up capital by means of reduction of par value of MPIC’s share from Baht 1 each to Baht 0.50.
- After process No.1 and No. 2 above, shareholders’ equity will be more than 50% of paid-up capital. All process will be completed within 1Q19.