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

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

According to the announcement of the Stock Exchange of Thailand (SET) that Group Lease Public Company Limited (GL) is subject to possible delisting from failure to submit the financial statements of the year 2020 within specified periods.

Currently, GL has already submitted the financial statements of the year 2020 to SET. Therefore, SET announces that GL has entered the period for the repossession of qualifications in order to resume trading (Resume Stage) which GL must take actions to repossess the qualifications in order to resume trading within August 4, 20231. If GL is unable to repossess the qualifications in order to resume trading within the specified period, SET may consider delisting the company's securities accordingly.

However, GL is still during the period for the elimination of the grounds for delisting from failure to submit the financial statements of Q1/2021 - Q3/2021 within specified periods. Consequently, GL 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 GL 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
• Failure to submit the financial statements of Q3/2021: The company must eliminate the ground for delisting within May 17, 2023
• Period for the repossession of qualifications in order to resume trading (Resume Stage): The company must repossess the qualifications in order to resume trading within August 4, 2023.

August 16, 2022

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• 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:
  3. • 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.