Bangkok, March 19, 2014 - The SEC revealed that the Settlement Committee imposed a fine of 500,000 baht on {A} for using inside information to purchase {X1} Company shares for his own benefit.

With the referral from the Stock Exchange of Thailand, the SEC's probe found that during November 9-22, 2012, {A} purchased 1,786,100 {X1} Company shares based on the company positive non-public information material to {X1} Company share price. The purchases were made through trading accounts of his son in which Sumit was an authorized person. In late 2012, {A} learned of the information concerning {X1} Company investment plan in significant portion of common shares issued by Sammakorn Plc. (SAMCO).  The transaction would turn the fate of {X1} Company amidst a crisis causing cease of its core business operation at that time; given that it would support the company to extend business collaboration and widen its property development opportunity. In addition, {X1} Company would obtain dividend payment from SAMCO and benefit from realization of investment in associated company by equity method. 

{A}'s action was deemed as using inside information in such a way as to take advantage of other persons in violation of Section 241 of the Securities and Exchange Act B.E. 2535 (1992). The Settlement Committee therefore fined him 500,000 baht.