Bangkok, August 20, 2015 ? The SEC revealed that the Settlement Committee imposed a total fine of 6,028,563.75 baht on Paiboon Thong-ra-ar for using inside information to sell shares and warrants of EMC Public Company Limited (EMC).

With the referral from the Stock Exchange of Thailand, the SEC
probed into the case and found that during October 16-18, 2013, Paiboon, then EMC Managing Director ? Engineering, had sold 5,950,000 EMC shares and 8,900,000 units of warrants to purchase EMC shares (EMC-W3) in his ex-wife trading account. The selling was based on non-public information concerning the operating net loss of 1,179.10 million baht in comparison with the net loss of 30.80 million baht in the previous quarter.

The aforesaid action was deemed as taking advantage over the others by using inside information to trade securities for his own and others? benefits  in violation of Section 241 of the Securities and Exchange Act B.E. 2535 (1992) which shall be liable to punishment under Section 296 of the same Act. As Paiboon agreed to enter the settlement procedure, the Settlement Committee therefore imposed a 6,028,563.75 baht fine on him.

Vasant Thienhom, Deputy Secretary-General said, ?In cases where a listed company has not yet disclosed non-public information material to the change of securities price, any directors having accessed to such information must refrain themselves from trading the company?s securities. Otherwise, the SEC will strictly pursue legal action against such wrongdoing as insider trading deteriorates investors? trust as well as confidence in the capital market.?