The share price of Energy Absolute Public Company Limited (SET: EA) continued to decline following the negativity surrounding the company as well as the abrupt resignation of a big name from its board of directors.
Just last week, the company announced a postponement of the redemption date of its two debentures worth a total of THB700 million in exchange for a raise in interest rates.
Yesterday, the company disclosed that Mr. Chatchaval Jiaravanon has resigned from the company’s director due to personal commitments, which may result in being unable to fully perform duties for the company as a director, effective from 28 July 2024 onwards.
Mr. Chatchaval, a member of the wealthiest family in Thailand that controls The Charoen Pokphand Group Company (CP Group), had just been approved for the position about two weeks ago. It raised questions on the internal situation of EA that led to an abrupt resignation of its directors.
The share price of EA fell 5.10% to THB3.72 per share, extending its losing streak to the fourth day.
