According to the announcement of the Stock Exchange of Thailand (SET) that Inter Far East Energy Corporation Public Company Limited (IFEC) has entered into the period for the repossession of qualifications in order to resume trading (Resume Stage) from failure to submit the financial statements within specified period which will reach the due date on April 1, 2022. SET would like to announce the time extension for IFEC to repossess the qualifications in order to resume trading until March 31, 2023. By that time, if IFEC is unable to repossess the qualifications in order to resume trading, SET may consider delisting the company's securities accordingly. However, IFEC is still during the period for elimination of the grounds for delisting about performance and financial position as the audited financial statements show that the equity is negative and also during the period for the repossession of qualifications in order to resume trading (Resume Stage) as the auditor issues a disclaimer opinion on the financial statements for 3 consecutive years. Consequently, IFEC still has duty to eliminate all causes of delisting, including to repossess the qualifications in order to resume trading within specified periods for each cause. In addition, the timeline for IFEC is summarized as follows. - Period for the repossession of qualifications in order to resume trading (Resume Stage) o As the company submitted the late financial statements: The company must repossess the qualifications in order to resume trading within March 31, 2023. o As the auditor expressed opinion to the financial statements: The company must repossess the qualifications in order to resume trading within January 6, 2024. - As the company's equity is negative: The company must eliminate the ground for delisting within April 15, 2024. ______________________________________________________________________
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Inter Far East Energy Corporation pcl published this content on 18 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2022 02:10:02 UTC.