SEC gives Energy Earth until April 17 to clarify Indonesia mines
Thailand’s Securities and Exchange Commission has extended the deadline for Energy Earth Public Co Ltd (EARTH) to clarify the value of mining property rights related to two mines in Indonesia.
The original deadline to publicly confirm the existence and fair value of the mines was April 17.
According to a statement from the SEC, EARTH is now required to clarify and publicly disclose the information within 60 days after the bankruptcy court grants permission for the plan preparer to assess the value of the mining.
EARTH appealed the earlier deadline, notifying the SEC that under the process of business rehabilitation required by the bankruptcy law, the company needed to request the Central Bankruptcy Court to grant permission for the assessment of the value of mining property rights and thus could not disclose the information within the original deadline.
The SEC has granted EARTH the extended deadline to clarify the existence and the fair value of the mining property rights and publicly disclose the information via the SET Information System within 60 days after the bankruptcy court’s approval.