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Katha was arrested on Sunday for allegedly violating the Computer Act's Article 14 by spreading the false information about the King's health.

Also arrested on the same charge was Thiranan Vipuchanan, 43, who reportedly used to work as an executive of a Securities firm.

Both were released on bail on Monday.

Chao Arunyawat, managing director of KT ZMICO Securities, issued a statement Monday, saying whatever Katha has conducted on the matter was his personal work and issue.

The company also ordered Katha to suspend his works for one week, starting Tuesday. The suspension will facilitate the company's internal investigation.

"We expect that Katha did it alone. However if it is found out later that there are other staffs involved. The company will further investigate them," the statement said.

The statement said that Katha cannot trade his private stake.

The company emphasised that Katha's job responsibility did not involve dissemination of any information to public.

Chao added that the company has stringent restrictions not to allow its staffs to disseminate any rumours or forward any rumours.

In addition, the company is not encouraged any practises that violate regulatoins of the Stock Exchange of Thailand and the Stock Exchange Commission.