SET to Delist GSTEL by 31 May 2020, If Failing to Submit Previous Financial Statement

SET to Delist GSTEL by 31 May If Failing to Submit Previous Financial Statement

According to SET has announced that G Steel Public Company Limited’s securities (GSTEL) is subject to possible delisting since November 15, 2018 and announced additional cause of possible delisting on February 15, 2019 because GSTEL is unable to submit its reviewed financial statements Q1/2018 and Q2/2018 respectively to SET within specified date which is later than 6 months.

Then on May 31, 2019, GSTEL has submitted the financial statements of Q1-2/2018 to SET. Therefore, SET announces GSTEL to enter the period for the repossession of qualification in order to resume trading (Resume Stage) from June 1, 2019.

Moreover, GSTEL must repossess the qualifications in order to resume trading within May 31, 2020 by submitting the overdue financial statement1/ and be able to submit the financial statements within the specified periods on 2 consecutive periods which the auditor’s report shall not be the types that the financial statements have failed to comply with the accounting principles or have any internal control issues.

If GSTEL is unable to repossess the qualifications in order to resume trading within the specified period, SET will propose to the SET’s Board of Governors to consider delisting the securities accordingly.

However, SP and NC signs have been posted on GSTEL’s securities until GSTEL is able to repossess the qualifications in order to resume trading.

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