Food and Drinks Public Company Limited

The SEC announced civil penalty proceedings against three offenders for jointly creating price or trading volume in the shares of Food and Drinks Public Company Limited, or F&D, ordering them to pay a total of 6,801,026.48 baht under civil sanctions, along with bans on trading securities or derivatives and on serving as directors or executives. The three offenders are Mrs. Sompong Srisuphornwong, Miss Peechaya Krimwongrat, and Mr. Peerapon Prasertchaikul, who had personal connections to a deceased intermediary. They jointly created the price or trading volume of F&D shares between August 9, 2022 and March 8, 2023, knowingly acting together or engaging in trading behavior through the intermediary, submitting buy and sell orders in a manner that was coordinated and mutually supportive, including pushing the price upward, dominating bid or offer orders, submitting orders in a split-up manner, and matching trades with themselves, as well as submitting buy orders before the market close to push the closing price higher, causing the price and trading volume of F&D shares to deviate from normal market conditions. The Civil Sanctions Consideration Committee resolved to apply civil sanctions, ordering Mrs. Sompong to pay a total of 803,314.66 baht, Miss Peechaya to pay 1,057,387.16 baht, and Mr. Peerapon to pay 4,940,324.66 baht. All three are banned from trading securities or derivatives for 11 months and from serving as directors or executives of securities-issuing companies or securities companies for 22 months. These measures will take effect as specified in the consent records signed by the offenders. If they do not consent, the SEC will ask public prosecutors to file a case with the Civil Court to impose civil sanctions at the maximum rate prescribed by law, but not lower than the rate set by the Civil Sanctions Consideration Committee. The civil fines and disgorgement of benefits are state revenue remitted to the Ministry of Finance.