Bangkok, October 28, 2014 - The SEC revealed that the Settlement Committee imposed a total fine of 19,948,269.33 baht for manipulating share price of Union Petrochemical Plc. (UKEM). The fine was imposed on 10 persons, namely (1) {A} (2) {B} (3) {C} (4) {D} (5) {E} (6) {F} (7) {G} (8) {H} (9) {I} and (10) {J}.

With the referral from the Stock Exchange of Thailand on irregular trading in UKEM shares by a group of persons during July 21 - August 20, 2008, the SEC probed into the case and found that {A} {B} {C} {D} {E} and four other accomplices had colluded to trade UKEM shares through seven persons securities trading accounts. The said four accomplices were Porntep Thawornwisuthikul, Arada Lertpinyopap, Naruephol Chatchalermvit and an unknown person previously named in the SEC's criminal complaint filed with the Department of Special Investigation on September 9, 2014. They traded UKEM shares in concealment on a continual basis, inflated and stabilized share price, and matched orders within the group. They also boosted up UKEM share's closing price from 2.60 baht per share on July 18, 2008 to close at 6.20 baht per share on August 20, 2008; resulting an increase of 3.60 baht or 138.46 percent.

Accordingly, the aberration in UKEM share trading values and volumes misled and lured the general public into the trading.  The scheme was aided or abetted by {F} {G} {H} {I} {J} and two other persons (namely Prayuth Lertpinyopap and Karuna Kaewmanee who declined to enter settlement procedure and were also named in the abovementioned SEC's criminal complaint).

{A} {B} {C} {D} and {E} violated Section 243(1) in conjunction with Sections 244 and 243(2) of the Securities and Exchange Act B.E. 2535 (1992) (SEA) in conjunction with Section 83 of the Penal Code, while {F} {G} {H} {I} and {J} violated Section 243(1) in conjunction with Sections 244 and 243(2) of the SEA in conjunction with Section 86 of the Penal Code.

The Settlement Committee, therefore, imposed a fine of 500,000 baht on {A} {C} {D} and {E} each; a fine of 6,216,808.65 baht on {B}; a fine of 10,564,794.03 baht Bordinth; and a fine of 333,333.33 baht on {F} {G} {H} {I} and {J}  each.

Information contained in this news release is as of the aforementioned release date. For those who wish to see current status of the matter,
please go to compliant filed with inquiry officer