Energy Absolute Public Company Limited (SET: EA) has announced that a special audit will work on the procurement pertaining to the SEC’s condemnation of the company’s former executives.
In order to ensure transparency and compliance with good corporate governance, as well as to build confidence and credibility in the Company’s operations, the Meeting resolved to approve the nomination and appointment of an external auditor as a special case to audit the procurement pertaining to the SEC’s condemnation of the Company’s former executives.
The Audit Committee was assigned to report the results of the external auditor’s audit to the Board of Directors as soon as possible.
If the investigation’s findings demonstrate that the former executives in question actually committed the offence as accused of by the SEC Office. The Company will take legal actions against the Company’s former executives to the fullest extent of the related laws, to protect and maintain the interests of the Company and its stakeholders.
EA was suspended on Monday, then hit the floor limit for two straight days. The share price also plunged 18.75% in the morning session on Thursday.
