Bangkok, 2 December 2016 - The Criminal Fining Committee has imposed fines on {A}, a former chief executive officer of {X1} Public Company Limited, and his aider {B}, for using inside information to sell the company's shares.

Following the SET's referral, the SEC's further investigation revealed that {A}, then {X1} Public Company Limited Chief Executive Officer, had been aware of the non-public information that the operating results for the second quarter of 2014 contained a significant loss, half of which was due to the cancellation of a major construction project. Based on such inside information, he was able to avoid loss by selling 8,651,400 of {X1} Public Company Limited shares off the trading account of {B}, his daughter during 19 May 2014 - 23 July 2014 before the company disclosed the Q2 operating results via the SET.

{A}'s offence was in violation of Section 241 of the Securities and Exchange Act of 1992 (SEA) and liable to the penalties under Section 296 of the SEA. He agreed to enter the criminal fining process and paid a fine of 4,333,480.50 baht.

In addition, the criminal fine has caused {A} to have untrustworthy characteristics of director and executive at any issuing or listed company for a period up to 3 years to be specified by the SEC.

In case of {B}, her assistance to {A}'s insider trading was an offence under Section 241 of the SEA in conjunction with Section 86 of the Penal Code. She agreed to enter the criminal fining process and paid a fine of 333,333.33 baht.