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SEC Funang 9 Thai Union Group Executives Inside Buying Shares


SEC Funang 9 Thai Union Group Executives Inside Buying Shares

Date 03 Apr 2022 at 1:52 p.m.

SEC defies 9 Thai Union Group executives for buying TU shares using inside information, fined 13 million baht

The Securities and Exchange Commission (SEC) has disclosed civil sanctions against nine offenders for buying shares in Thai Union Group Public Company Limited (TU) based on insider information. Disclosure inside information and help the offender by allowing the offender to pay a total of 13,363,281 baht

The SEC received information from the Stock Exchange of Thailand. and further investigation found that During October – November 2017, 9 persons were: (1) Mr. Kraisorn Chansiri (while serving as the Chairman of TU) (2) Mr. Dispol Chansiri (3) Mr. Chan Hon Kit (Mr. Chan Hon Kit (while serving as a director of TU’s affiliates) (4) Mr. Chan Tin Shu (5) Mrs. Cai Nguyen Chu (Mrs. Choy Yuen Chu) (6 ) Mr. Chuan Tangchansiri (while serving as a director of TU), (7) Mrs. Chen Yu-chen, (8) Mr. Chan Hon Hung, and (9) Mrs. Hui Pui Wah bought shares of TU based on insider information. Disclosure of inside information to others or assisting in the commission of such offences

Mr. Kraisorn, Mr. Chan Hon Kit and Mr. Chuan obtained inside information about TU’s third-quarter 2017 performance with a net profit of 1,736.84 million baht, a significant increase in profits. It increased from the second quarter of 2017 by 23.07% and increased from the same quarter of the previous year (Q3 2016) by 8.93%.

Between October 9 – November 3, 2017, Mr. Kraisorn bought TU shares using his trading account of Mr. Dispon (son), while Mr. Chan Hon Kit bought TU shares in his own trading account. and disclosed inside information to Mr. Chan Tin Su (son) and Ms Cai Nguyen Zhu (wife), which Mr. Chan Tin Su and Ms Cai Nguyen Zhu took the said inside information. In addition, it was found that Mr. Chuan bought TU shares in the brokerage account of Ms. Chen Yu Zhen (friend) and the account of Mrs. Chen. for their own benefit and ah respectively Including the disclosure of inside information to Mr. Chan Hon Hung (brother), which Mr. Chan Hon Hung used inside information disclosed by Mr. Chuan to buy TU shares in his own trading account. and disclosed the inside information to Mrs. Hui Pui Wa (wife), which Mrs. Hui Pui Wa had used such inside information to buy TU shares in her own trading account. On November 6, 2017

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The actions of Mr. Kraisorn, Mr. Chan Hon Kit, Mr. Chan Tin Su, Ms Cai Nguyen Ju, Mr Chuan, Mr Chan Hon Hung and Ms Hui Pui Wa were all guilty of buying TU shares based on inside information under the Articles of Association. 242(1) which has a penalty under Section 296 and Section 296/2 of the Securities Act

In addition, the actions of Mr Chan Hon Kit, Mr Chuan and Mr Chan Hon Hung are also offenses of disclosing inside information under Section 242 (2), which has penalties under Section 296 and Section 296/2 of the same Act.

As for the actions of Mr. Dispol and Ms. Chen Yu Zhen, they were guilty of supporting the offense of buying TU shares based on inside information under Section 315 in conjunction with Section 242(1), which contained penalties under Section 296 and Section 296. 296/2 of the Securities Act

The Civil Sanctions Committee (OCC) has resolved to apply civil sanctions to all 9 individuals by stipulating civil sanctions, including civil fines. reimburse the amount equal to the benefits received or receivable reimburse the SEC’s expenses due to the investigation of wrongdoings and measures to prohibit being a director or executive in a securities issuing company or a securities company as follows:

(1) Mr. Kraisorn pays a civil fine reimburse the amount equal to the benefits received and reimburse the SEC’s expenses due to the investigation of wrongdoings. Total amount of 3,426,809 baht and impose a measure to prohibit being a director or executive for 14 months.

(2) Mr. Disphol paid a civil fine and reimbursed the SEC’s expenses due to investigations of wrongdoing in the total amount of 551,809 baht and imposed a measure to prohibit him from being a director or executive for 9 months.

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(3) Mr. Chan Hon Kit paid a civil fine. reimburse the amount equal to the benefits received and reimburse the SEC’s expenses due to the investigation of wrongdoings. Total amount of 2,406,309 baht and a measure to prohibit being a director or executive for 12 months.

(4) Mr. Chan Tin Su paid a civil fine. reimburse the amount equal to the benefits received and reimburse the SEC’s expenses due to the investigation of wrongdoings. Total amount of 891,809 baht and impose a measure to prohibit being a director or executive for 12 months.

(5) Mrs. Cai Nguyen Zhu pays a civil fine. reimburse the amount equal to the benefits received and reimburse the SEC’s expenses due to the investigation of wrongdoings. totaling 806,809 baht and impose a measure to prohibit being a director or executive for 12 months

(6) Mr. Chuan pays a civil fine. reimburse the amount equal to the benefits received and reimburse the SEC’s expenses due to the investigation of wrongdoings. Total amount of 1,701,809 baht and impose a measure to prohibit being a director or executive for 14 months.

(7) Ms. Chen Yu Zhen pays a civil fine and pays the SEC’s expenses due to investigation of wrongdoing. Total amount of 551,809 baht and impose a measure to prohibit being a director or executive for 9 months.

(8) Mr. Chan Hon Hung pays a civil fine. reimburse the amount equal to the benefits received or receivable and reimburse the SEC’s expenses due to the investigation of wrongdoings. Total amount of 2,164,309 baht and impose a measure to prohibit being a director or executive for 12 months.

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(9) Mrs. Hui Pui Wah, pay the civil fine. reimburse the amount equal to the benefits received and reimburse the SEC’s expenses due to the investigation of wrongdoings. Total amount of 861,809 baht and impose a measure to prohibit being a director or executive for 12 months.

The aforementioned period of prohibition from being a director or executive will be effective from the date the offender signs a memorandum of consent to comply with the civil sanctions prescribed by the Civil Service Commission. The SEC will have a letter requesting the public prosecutor to file a lawsuit with the Civil Court to impose civil sanctions at the highest rate prescribed by law, not less than the rate prescribed by the SEC.

In this regard, the civil fines and compensation for benefits received or receivable from the commission of an offense are state revenues submitted to the Ministry of Finance.

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