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Changing the Par Value

 

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Rules Summary

 

Changing the par value has no effects on the shareholders’ equity. However, the company may consider it as an approach to increase trading liquidity.


Subject Details
Type of par value change
  1. Splitting par value:
    Old 100 million Baht paid-up capital composing of 10 million common shares at a par value of 10 Baht each
    After the par value has been split to one Baht per share, the new 100 million Baht paid-up capital will be composing of 100 million shares at a par value of 1 Baht each

  2. Merging the par value:
    Old 100 million Baht paid-up capital composing of 10 million common shares at a par value of 10 Baht each After the par value has been merged to 100 Baht per share, the new 100 million Baht paid-up capital will be composing of one million shares at a par value of 100 Baht each
Information disclosure
  • The company must disclose via SETLink about the board’s resolution on par split or merge immediately on the day the board’s reached the resolution or the latest by 9.00 am of the following business day.
  • Material information required:
    1. The day the board has made a resolution about par value change  
    2. Suggestions by the board to split or merge the par value, and the par value before and after adjustment
    3. Shareholders’ meeting date, the record date (RD) or book closing date (BC) for the rights to attend the meeting, by which related information about meeting agenda should include:
      • Change in par value (Par split or merge) and mention the par values before and after the change
      • Adjustment of the Memorandum of Association
Notification of shareholders’ resolution Within the shareholder meeting date, or the latest by 9.00 hrs. of the following business day, via SETLink
Registering the par change
  • Register with the Ministry of Commerce (MOC) within 14 days after the shareholders' meeting
  • After the company has registered with MOC, it has to disclose information about those changes to SET, so that the par value of stocks traded in the system will be changed accordingly. Information required for disclosure is:
    1. Reference to the shareholder meeting resolution about par value change
    2. Par value before and after change
    3. Date of registering the par value change with MOC    
    4. For SET reference, please certified true of these documents by authorized directors and submit them via SETLink system
      4.1) Memorandum of association
      4.2) Copy of par value change registration, following the shareholder meeting.
News announcement by SET SET will announce the effective of par change in the trading system, which is normally the 3rd day after SET makes announcement.

 

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