Stark Corporation Public Company Limited or STARK Revealed that according to the company has submitted the financial statements for the year 2022 which have been audited by the auditor and it turns out that the shareholders’ equity for the year 2021 (revised) and the year 2022 is less than zero. Stock Exchange of Thailand or SET therefore announced that the Company’s securities may be subject to possible delisting in accordance with the regulations of the Stock Exchange of Thailand Regarding the delisting of listed securities
The company would like to clarify that The company is not indifferent and will take urgent action to resolve the aforementioned delisting. The company intends to restructure its capital and debt structure. both of the Company and its subsidiaries which operate the main business To make the shareholders’ equity of the company to be greater than zero and to have net profits from normal operations of subsidiaries operating the main business. The company is in the process of considering the corrective action. the following
1. Negotiate with all major creditors. In order for various creditors to suspend the exercise of their rights to claim debt repayment. Immediately supported the company’s capital and debt restructuring plan. Including providing financial assistance to plan the management of debt repayment. and plan both short-term and long-term business
2. Dispose of assets (such as shares in subsidiaries that do not operate the core business of the company Claims in important contracts and restructure the organization to be in line with the business volume to increase revenue and reduce fixed costs and expenses of the company
3.Increase the registered capital to allocate newly issued ordinary shares to the current existing shareholders. or consider looking for new investors to increase shareholders’ equity and increase the company’s financial liquidity
4. File a petition to the bankruptcy court for business rehabilitation to adjust the capital and debt structure of the company. Including the right to convert debt to equity to creditors under the business rehabilitation plan.
However, when choosing a solution to fix shareholders’ equity is less than zero, the company must consider various factors. Related which includes various conditions and limitations under a financial contract and important contracts Market demand for acquisitions of company assets and related pricing factors Cooperation and support of relevant creditors The support of existing shareholders of the company as well as various effects to maintain the qualifications to maintain the status of a listed company To maintain the best interests of the company, shareholders and all stakeholders of the company.
The Board of Directors and the current executives of the Company are determined to resolve such incidents in order to minimize the impact on all concerned parties. within the framework of relevant laws and regulations And the company will inform you about the way to resolve the delisting of listed securities. and the deadline for such action to shareholders and investors by July 19, 2023.
2023-06-28 15:11:24
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