Following the Stock Exchange of Thailand (SET)'s referral, the SEC's further investigation has revealed that {A}, then president and chairman of the executive board of UMI, together with {B}, {C} and {D} agreed or conspired with nine other persons to manipulate the price and trading volume of UMI shares by trading such shares continuously in concealment through several trading accounts to the point where the normal market condition became affected during 9 January - 28 February 2013.

Such offences were in violation of Section 243 of the Securities and Exchange Act of 1992 (SEA) in conjunction with Section 83 and Section 86 of the Penal Code, and liable to the penalties under Section 296 of the SEA, i.e., up to two years imprisonment or a fine twice the amount of the benefits received or should have received but in any case no less than 500,000 baht, or both.

{A}, {B}, {C} and {D} refused to enter the criminal fining process. The SEC therefore filed a criminal complaint with the DSI for further legal proceeding. As a result, Paweena is banned from holding director or executive positions in any securities issuing company while the legal proceedings are underway. 

In any case, filing a criminal complaint commences the criminal justice administration whereby the consideration whether a defendant is guilty will be proceeded by the inquiry official and the public prosecutor, and the court will judge the case, respectively.

Information contained in this news release is as of the aforementioned release date. For those who wish to see current status of the matter, please go to compliant filed with inquiry officer