31 Jul 2020
On July 24, 2020, A. P. F. Holdings Company Limited (APFH), as a shareholder of GL, filed with the Thai Civil Court a civil claim against J Trust Company Limited, JTrust Asia Pte. Ltd. plus three other people, and filed a Motion requesting the Court to adopt class action procedure in order to allow GL shareholders who held shares during the period set out by the Court (from March 13, 2017 to present) to receive compensation for the loss of earning on the same basis as claimed by APFH, ie the loss of earning at the rate of THB 16.94 per share multiplied by the number of shares held by each class member during March 13, 2017 to present, regardless of whether such shares have now been sold or not. The result will be equal to the loss of earning sustained by each class member. In addition, the claim includes an interest at the rate of 7.5 percent per annum from the date of the claim (July 24, 2020). The Court has scheduled a hearing for examination of the Class Action Motion to be held on September 14, 2020, at 9.00 am.
APFH has requested GL to publish this news release update for initial acknowledgement by shareholders so that if the Court orders to adopt the class action procedure, the shareholders who exist as the class members pursuant to such Court order will be entitled to indemnity in the statement of claim. APFH’s legal team is now gathering information of shareholders and will provide them with details of their entitlements and procedure to be followed.
Should you require any additional information,
DLA Piper (Thailand) Ltd.
(Class Action) 47th Floor, Unit 4707, Empire Tower 1
South Sathon Road, Yannawa Subdistrict
Sathon District, Bangkok 10120
Tel: 02 686 8590
Email: [email protected]