SEC orders CPAXT to clarify investment information in The Happitat project by 25 Dec 67

SEC orders CPAXT to clarify information on joint investment in The Happitat project through joint investment in subsidiary AGP by 25 Dec 67

On December 18, 2567, the Securities and Exchange Commission (SEC) ordered CP Extra Public Company Limited (CPAXT) to clarify information regarding its investment in The Happitat project through its subsidiary, Extra Growth Plus Company Limited (AGP), and to disclose the information via the SETLink system by December 25, 2567.

As CPAXT disclosed information on its joint investment in The Happitat project through a joint investment in a subsidiary company, AGP, at a proportion of 95 percent, worth 7,970 million baht, in which AGP will become a shareholder in Happy Tat at The Forestias Company Limited (HATF), which is engaged in mixed-use real estate development under the project named The Happitat.

However, since the information disclosed by CPAXT may not be complete or clear regarding the investment in the said project, it may affect the rights and benefits of the security holders or the investment decision of the investors or the change in the price of the security.

The SEC, therefore, exercised its power under Section 58(1) of the Securities and Exchange Act B.E. 2535 to order CPAXT to clarify additional relevant facts, such as the opinions of the Company's Board of Directors and Audit Committee in considering approval to participate in The Happitat Project, the fair value of the assets, the progress of the project development, the period of time expected to generate income from the project, the total investment expected to be used in the project, and whether or not such items are providing assistance to companies in the group, etc.

and disclose the said clarification through the Stock Exchange of Thailand's listed company information disclosure system (SETLink system) by 25 December 2567.

Mr. Anek Yoo-yin, Deputy Secretary-General and Spokesperson of the SEC (Securities and Exchange Commission of Thailand) , stated, “The SEC places great importance on the disclosure of information by listed companies to ensure investors have sufficient information to make informed investment decisions. This includes the responsible, diligent, and honest performance of company boards of directors and executives, adherence to good corporate governance, and prioritizing the interests of shareholders.”

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