NCL International Logistics Public Company Limited (mai: NCL) has announced a termination of an acquisition in Asia Wealth Securities.
NCL stated that according to the Board of Directors’ meeting of NCL on October 27, 2022, it was resolved that the company shall purchase of the ordinary shares of Asia Wealth Securities Company Limited, (AWS), in the proportion of 60 percent of the paid-up capital AWS and had signed the share purchase agreement on November 4, 2022, that which is in the process of complying with various requirements and has not yet been transfer of AWS shares.
However, the Board of Directors’ meeting of NCL on November 18, 2022 considered the issue that AWS had been temporarily suspended of the operation by the Securities and Exchange Commission (SEC) on November 17, 2022, might pose a risk to the company’s investment. Therefore the Board of Directors approved the cancellation of investment of AWS and cancellation of the share purchase agreement of AWS.
Yesterday, the Securities and Exchange Commission (SEC) announced a temporary suspension on the operation of AWS after finding that the securities company pull out its customers’ funding worth 158 million baht to cover the damage caused by the controversial with More Return Public Company Limited (mai: MORE) without customers’ consent or acknowledgement.
The Stock Exchange of Thailand (SET) announced this morning that AWS’ customers will be able to transfer their assets to other brokers. In case of no other accounts, investors are allowed to keep their assets at Thailand Securities Depository without any charges.