Max Metal Public : SET announces that MAX has entered the period for the repossession of qualifications in order to resume trading (Resume Stage) as MAX has submitted the late financial statements.

Date/Time

24 Mar 2022 08:37:25

Headline

SET announces that MAX has entered the period for the repossession of qualifications in order to resume trading (Resume Stage) as MAX has submitted the late financial statements.

Symbol

MAX

Source

SET

Full Detailed News

                According to the announcement of the Stock Exchange of Thailand (SET) that Max 
Metal Coporation Public Company Limited (MAX) is subject to possible delisting
from failure to submit the financial statements of the year 2020 and the
financial statements of Q1-Q2/2021 within specified periods.

Currently, MAX has already submitted the financial statements of the year 2020 
to SET. Therefore, SET announces that MAX has entered the period for the
repossession of qualifications in order to resume trading (Resume Stage) which
MAX must take actions to repossess the qualifications in order to resume trading
within February 27, 2023*. If MAX is unable to repossess the qualifications in
order to resume trading within specified periods, SET may consider delisting the
 company's securities accordingly.

However, MAX is still during the period for the elimination of the grounds for 
delisting from the failure to submit the financial statements of Q1-Q2/2021
within specified periods. Consequently, MAX still has duty to eliminate all
causes of delisting, including to repossess the qualifications in order to
resume trading within specified periods for each cause. In addition, the
timeline for MAX is summarized as follows;
-    Failure to submit the financial statements of Q1/2021 : The company must 
eliminate the ground for delisting within November 17, 2022.
-    Failure to submit the financial statements of Q2/2021 : The company must 
eliminate the ground for delisting within February 17, 2023.
-    The repossession of qualifications in order to resume trading (Resume Trading)
 : The company must repossess the qualifications within February 27, 2023
..................................................................
*Criteria for trading resumption as follows:
1)    The company must submit the financial statements on 2 consecutive periods 
within the specified periods after the submitting all late financial statements;
 and
2)    The auditor's report of the financial statements as follow 1) shall not be 
one of the following types:
-    The auditor proposes a qualified opinion that there is defect in the internal 
control system or incomplete accounting system, or the listed company has failed
 to comply with the generally accepted accounting principle.
-    The auditor issues a disclaimer opinion on the financial statements in case 
the scope of auditor is limit by an act or omission of the company or
management.
-    The auditor issues an adverse opinion on the financial statements.
______________________________________________________________________