SEC affirms the rectification of EIC tender offer
he Securities and Exchange Commission affirmed the instruction for Bee Taechaubol to promptly rectify the tender offer for Electronics Industry Plc. (EIC)'s shares as specified by the tender offer rules. Bee was earlier found purchasing EIC shares through the Stock Exchange of Thailand (SET) at a price higher than the tender offer price. His action resulted in a violation of the tender offer rules, regardless of the fact that he sold the entire purchased amount already.
Following the SEC’s instruction for Bee to provide clarification with prompt rectification on the tender offer price for EIC’s shares as specified by the tender offer rules, Bee on January 27, 2014 sent the SEC a letter explaining his purchase of EIC shares to the Sub-Committee on Business Takeovers .