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SEC imposes a civil sanction on a SPORT executive for insider trading



Friday 15 September 2017 | No. 84 / 2017



Bangkok, 15 September 2017 ? The Civil Sanction Committee has imposed a civil sanction on Mr. Ravi Lohtong, director and executive of Siam Sport Syndicate Public Company Limited (SPORT), for using inside information to buy the company's shares. He was subject to a civil penalty of 500,000 baht, as a result

Following a referral from the Stock Exchange of Thailand (SET), the SEC conducted further investigation and found that Ravi had taken advantage of the information on SPORT's operating results for the third quarter of 2015. The information became known to him by virtue of his position as the company's director and chief advisor to the executive board before it was disclosed to the public. The Q3/2015 operating results showed the net earnings of 14.25 million baht, which was a significant increase compared to the continuing loss in previous quarters. Ravi used such inside information to buy 1,479,700 SPORT shares through the trading account of Lohtong Holding Co., Ltd. before the company publicly disclosed the Q3/2015 financial statements through the SET's Electronic Information System on 13 November 2015.

Ravi's misconduct was deemed a securities purchase based on a non-disclosed, material fact that could influence the securities price to gain unfair benefit over other persons, liable to the offenses under Section 241 of the Securities and Exchange Act B.E. 2535 (1992) and criminal penalties under Section 296 and Section 296/2, as well as civil sanctions under Section 317/1, Section 317/4 and Section 317/5 of the Securities and Exchange Act (No. 5) B.E. 2559 (2016).

Ravi agreed to the civil sanction imposed by the Civil Sanction Committee, and paid the civil penalty of 500,000 baht. The money will be submitted to the Ministry of Finance as public revenue.

In addition to the civil sanction, the SEC has banned Ravi from holding the position of director or executive at any issuing or listed companies for one year.*

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*In compliance with the Notification of the Securities and Exchange Commission No. Kor Jor. 3/2560 Re: Determination of Untrustworthy Characteristics of Company Directors and Executives dated 23 January 2017.












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No. 84 / 2017 Friday 15 September 2017
SEC imposes a civil sanction on a SPORT executive for insider trading


Bangkok, 15 September 2017 ? The Civil Sanction Committee has imposed a civil sanction on Mr. Ravi Lohtong, director and executive of Siam Sport Syndicate Public Company Limited (SPORT), for using inside information to buy the company's shares. He was subject to a civil penalty of 500,000 baht, as a result

Following a referral from the Stock Exchange of Thailand (SET), the SEC conducted further investigation and found that Ravi had taken advantage of the information on SPORT's operating results for the third quarter of 2015. The information became known to him by virtue of his position as the company's director and chief advisor to the executive board before it was disclosed to the public. The Q3/2015 operating results showed the net earnings of 14.25 million baht, which was a significant increase compared to the continuing loss in previous quarters. Ravi used such inside information to buy 1,479,700 SPORT shares through the trading account of Lohtong Holding Co., Ltd. before the company publicly disclosed the Q3/2015 financial statements through the SET's Electronic Information System on 13 November 2015.

Ravi's misconduct was deemed a securities purchase based on a non-disclosed, material fact that could influence the securities price to gain unfair benefit over other persons, liable to the offenses under Section 241 of the Securities and Exchange Act B.E. 2535 (1992) and criminal penalties under Section 296 and Section 296/2, as well as civil sanctions under Section 317/1, Section 317/4 and Section 317/5 of the Securities and Exchange Act (No. 5) B.E. 2559 (2016).

Ravi agreed to the civil sanction imposed by the Civil Sanction Committee, and paid the civil penalty of 500,000 baht. The money will be submitted to the Ministry of Finance as public revenue.

In addition to the civil sanction, the SEC has banned Ravi from holding the position of director or executive at any issuing or listed companies for one year.*

________________________________



*In compliance with the Notification of the Securities and Exchange Commission No. Kor Jor. 3/2560 Re: Determination of Untrustworthy Characteristics of Company Directors and Executives dated 23 January 2017.