Bangkok, 15 March 2018 ? The SEC has instructed Inter Far East Energy Corporation Public Company Limited (IFEC) and its directors to clarify the arrangement of a shareholders? meeting to appoint board directors and disclose the clarification via the Stock Exchange of Thailand (SET) within 22 March 2018.
On 14 ? 15 March 2018, IFEC disclosed via the SET that the company's three directors ? i.e., Mr. Peerathuch Sukapong, Maj. Gen. Chainat Yatshimplee and Mr. Piyapong Wongsuwatana ? had resigned. Later, on 15 March 2018, the Civil Court made a decision to void the resolution of the annual general shareholders? meeting held on 2 May 2017, which has consequently resulted in the cancellation of Mr. Teetiphun Theppadungporn's directorship.
Given such circumstances, the SEC views that an immediate arrangement of a shareholders? meeting to appoint new directors is imperative. The SEC has thus instructed IFEC and its remaining directors to do so most urgently. In addition, since holding a shareholders? meeting for such purpose could have a material impact on the shareholders? rights, the SEC therefore, by virtue of Section 58 of the Securities and Exchange Act B.E. 2535 (1992), has instructed IFEC and its directors to clarify the arrangement of such shareholders? meeting to the SEC and disclose such clarification via the SET within seven days, or on 22 March 2018.
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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