Guidelines for Supervision of Listed Companies

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 Listing Department
 Guidelines for Supervision of Listed Companies
 Governance assessment

 Information Disclosure
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 Contact with SET

Information Disclosure: Listed companies are required to disclose any material information which affects investors' and shareholders' investment decisions. The required disclosures can be categorized into 2 types:

1. Periodic disclosures such as quarterly financial statements, annual financial statements, Form 56-1, and annual reports.
2. Disclosure of material events such as notices of dividend payment / nonpayment, capital increase, investments, acquisition / disposal of assets, related-party transactions, mergers and acquisitions, etc.

Listed companies must disclose information in both Thai and English promptly whenever an important event occurs or no later than 09:00 AM on the next business day by disclosing such information through SET Portal at least one hour before each trading session opens, or after the close of the day's trading.

Maintaining the listing status: Listed companies are required to maintain their listing status at all times to remain listed on SET and mai. Qualifications to maintain the listing status include being qualified in terms of free float distribution, being free from conflicts of interest, having qualified audit committee, management, and auditors, etc.

Delisting of Securities: SET sets out criteria and conditions for delisting of securities to protect shareholder interests since delisting affects both shareholder rights and the liquidity of the shares they hold. Securities delisting can be categorized into 2 types:

1. Compulsory delisting occurs when SET orders the delisting of securities of a listed company which no longer meets continued listing criteria, e.g. in case where the company is under receivership by a court order, etc. SET sets out rehabilitation procedures for specific cases where the company can manage to repossess the qualifications to resume trading as follows;
   
   
   

   Grounds for delisting	Period for the elimination of the grounds	Resume Stage
   1.1 Performance or financial position are not in accordance with requirements, e.g. having a negative shareholder equity, there is a significant decrease in assets, or the operation is halted entirely or almost entirely, etc.	3 years and extendable for 1 year SET will announce the list of companies in each stage of this period (NC Stage 1, 2, 3)	2 years shall be granted and extendable for 1 year
   1.2 Failure to comply with regulations which may seriously damage the interests or the decision of the shareholders, or changes in securities price. Failure to submit the financial statements Cash Company	1 year	1 year shall be granted and extendable for 1 year

   
   
   
   
2. Voluntary delisting: the company must obtain shareholders’ approval of not less than three-fourths with veto not exceeding 10% of the total paid-up capital. The company must also arrange a tender offer to buy back shares from all shareholders prior to delisting.