No. 28 / 2015
Tuesday 10 March 2015
Bangkok, March 10, 2015 – The SEC revealed that the Settlement Committee imposed a total fine of 500,000 baht on Pantipa Thirakanokvilai for using inside information to sell shares of IT City Plc. (IT).
With the referral from the Stock Exchange of Thailand, the SEC’s probe found that during January 31 - February 4, 2013, Pantipa, IT financial controller, had sold 374,440 IT shares through securities trading account of another person for her own or others’ benefits in such a way that taking advantage of others. The selling was made by using material non-public information concerning a 129.83 million baht decrease in IT net profit in 2012 from the previous year; accounting for 59.77 percent. It was the lowest net profit in the past nine years since 2004 and the announcement of no interim dividend payment from IT Q4/2012 operational result.
The aforesaid action was in violation of Section 241 of the Securities and Exchange Act B.E. 2535 (1992) which shall be liable to punishment under Section 296 of the same Act. As Pantipa agreed to enter the settlement procedure, the Settlement Committee therefore imposed a fine on her in the amount of 500,000 baht.