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Mr. Tatsuya Konoshita, Deputy Chief Executive Officer of Group Lease Public Company Limited, said “on 8 June 2023, the SET published an update about requirements for GL in order to remove the grounds for delisting. Basically the SET gave us time to fix the issues until Nov 2024th which had been extended from the end of May 2023 and we are very pleased to get such permission from SET and gives us enough time to fix the issues. The only condition is that GL must arrange for the shareholders meeting to appoint the auditor for the years 2021 – 2023 within 31 July 2023. Once we accomplish that, the SET will provide GL with an extension on submitting all late financial statements until 14 November 2024.”
Mr. Riki Ishigami, Chief Executive Officer of Group Lease Public Company Limited, stated, “This is in line with our plan to have a new auditor for years 2021 – 2023 audit our financial statements so that we can catch up on our public financial statements and eventually resume trading of our shares for our shareholder’s benefit. GL is already in deep discussion with an auditor and we strongly believe we will meet the SET’s 31 July 2023 deadline in regards to arranging a shareholders meeting. We look forward to providing the market with financial updates about our business again.”
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Mr. Tatsuya Konoshita, Deputy Chief Executive Officer of Group Lease Public Company Limited, said “last month in April, JTA submitted a petition for winding up Group Lease Holdings (GLH) in Singapore and also submitted a petition to put the Group Lease PCL (GL) into rehabilitation in Thailand. Thankfully, the Thai courts reviewed JTA’s petition against GL and did not accept the petition and ordered JTA to pay the expenses incurred. We are hopeful that the judges in Singapore will find the same conclusion as in Thailand. I believe that JTA is trying to use the bankruptcy cases to damage GL and our companies and to satisfy their malicious and greedy desires and this is a typical abuse of legal system.”
Mr. Riki Ishigami, Chief Executive Officer of Group Lease Public Company Limited, stated, “This is not the first time JTA has used these kind of tactics to harm our Company. In 2019, the Central Bankruptcy Court in Thailand dismissed JTA’s rehabilitation petition against GL and JTA kept appealing all the way to the Supreme Court which finally dismissed JTA’s claim. Now, JTA is trying again. We will continue to fight in both Thailand and Singapore against these false claims and again we are grateful to the Thai courts for dismissing JTA’s recent petition.”
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Mr. Tatsuya Konoshita, Deputy Chief Executive Officer of Group Lease Public Company Limited, revealed “on 8 February 2023, the Bangkok North Municipal Court had a hearing for pronouncement of the order of the criminal fraud case brought by J Trust Asia Pte. Ltd. (“JTA”) against the Company and former Directors, Mitsuji Konoshita and Muneo Tashiro. We are pleased to report that the court dismissed the case based on the reasoning that JTA’s complaint is not well-grounded which legally is called having no prima-facie merits. The court looked at and decided that because JTA’s investments in GL were made voluntarily and that JTA is a large and experienced investment company, then JTA should have known what was investing into when entering the investment agreements with GL. I believe the court considered that the investment by JTA should be considered under ‘the Principle of Self-Responsibility.’ As such, GL and our former Directors are not guilty of the criminal charge of fraud.”
Mr. Riki Ishigami, Chief Executive Officer of Group Lease Public Company Limited, stated, “this is the same allegation as the case that JTA had brought to the Department of Special Investigation (“DSI”) and the DSI had subsequently issued a final non-prosecute order against GL and our former Directors. We are glad that both the DSI and the court came to the same conclusion that GL did not defraud JTA when JTA decided to invest into GL. We believe that this decision will foreshadow the court’s decision next year in our main legal case with JTA that its investments into GL could not be voidable, since there was no fraud committed by GL and its former Directors.
We appreciate our shareholders during these times, we will come out stronger from this. We will continue to fight JTA and demand compensation for the damages they have caused our shareholders over these years.”
For more information, please contact
Sutisa Trikisyasopon / Amonchai Udomphot
Siam PR Consultant Co., Ltd.
Tel. 0-2693-7835 Ext. 21
Mobile. 098-996-2454 / 081-720-4573
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Mr. Tatsuya Konoshita, Deputy Chief Executive Officer of Group Lease Public Company Limited, revealed “on 8 February 2023, the Bangkok North Municipal Court had a hearing for pronouncement of the order of the criminal fraud case brought by J Trust Asia Pte. Ltd. (“JTA”) against the Company and former Directors, Mitsuji Konoshita and Muneo Tashiro. We are pleased to report that the court dismissed the case based on the reasoning that JTA’s complaint is not well-grounded which legally is called having no prima-facie merits. The court looked at and decided that because JTA’s investments in GL were made voluntarily and that JTA is a large and experienced investment company, then JTA should have known what was investing into when entering the investment agreements with GL. I believe the court considered that the investment by JTA should be considered under ‘the Principle of Self-Responsibility.’ As such, GL and our former Directors are not guilty of the criminal charge of fraud.”
Mr. Riki Ishigami, Chief Executive Officer of Group Lease Public Company Limited, stated, “this is the same allegation as the case that JTA had brought to the Department of Special Investigation (“DSI”) and the DSI had subsequently issued a final non-prosecute order against GL and our former Directors. We are glad that both the DSI and the court came to the same conclusion that GL did not defraud JTA when JTA decided to invest into GL. We believe that this decision will foreshadow the court’s decision next year in our main legal case with JTA that its investments into GL could not be voidable, since there was no fraud committed by GL and its former Directors.
We appreciate our shareholders during these times, we will come out stronger from this. We will continue to fight JTA and demand compensation for the damages they have caused our shareholders over these years.”
For more information, please contact
Sutisa Trikisyasopon / Amonchai Udomphot
Siam PR Consultant Co., Ltd.
Tel. 0-2693-7835 Ext. 21
Mobile. 098-996-2454 / 081-720-4573