BJC Heavy Industry Public Company Limited (BJCHI) has announced the completion of its share buyback program for financial management purposes. The total repurchased shares amount to 3,167,500 shares, representing 0.79% of all issued shares, with a total value of 10,235,057 baht. This exceeds the 10,000,000 baht limit approved by the company's board of directors by 235,057 baht, due to an unintentional error in order placement. The company is currently considering appropriate measures to ensure compliance with laws and regulations of relevant authorities, and will improve its processes and internal control systems to prevent future errors. According to regulations, the company may sell the repurchased shares after three months from the completion date, but no later than three years. If the shares are not fully sold, the company must reduce its capital by canceling the repurchased shares. The timeline for selling the shares will be proposed to the board of directors for further consideration.
BJC Heavy Industries Public Company LimitedBJCHI's share buyback exceeded the board-approved 10 million baht limit by 235,057 baht due to an order-placement error, raising compliance concerns.
