SET put up SP sign for Jasmine International’s shares

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The Stock Exchange of Thailand (SET) this afternoon (Tuesday) put up a SP sign for the shares of Jasmine International on the ground that the company’s clarification for the failure of its subsidiary, JAS Mobile, to meet the Monday’s deadline for the payment of the first installment of license fees was incomplete.

An informed SET source said that the SP notice would be lifted once Jasmine International has come up with full clarification to SET’s satisfaction.

SET has demanded Jasmine International to clarify on three points: Firstly, why JAS Mobile or JASMBB which is a subsidiary of Jasmine International did not abide by the contractual conditions regarding the installment payments?

Secondly, the damage which will or may render to JAS Mobile such as the guarantee money which may be confiscated and other damages to its business that Jasmine International may have to be held accountable.

And, thirdly, the impacts on the financial standing, business performance and operations of Jasmine International. According to Jasmine Internatioinal’s balance sheet for 2015, JAS Mobile was set up on August 21, 2015 with 350 million baht paid-up capital and with 302 million baht in borrowing from Jasmine International.