For an actual share repurchase to occur, a repurchasing firm
must notify the SET of its board of directors’ resolution regarding the
approval to undertake a share repurchase programme before 9.00 a.m.
on the following trading day. After the lapse of 14 days following this
notification, a firm can start to buy back its shares and it must complete
a share repurchase programme within six months from the first day of
its share repurchases. The price at which a firm can actually repurchase
shares each day must not exceed 115 per cent of the weighted average
closing price over the previous five trading days. The details of actual
share repurchased, that is, the highest price, the lowest price, number of
shares repurchased, value of shares repurchased, and total money spent
for repurchased shares, must be reported on a daily basis to the SET
before 9.00 a.m. on the following trading day. The shares repurchased
are recorded as treasury stock on the company’s balance sheet. After six
months from the completion date of share repurchases but not later than
three years from that date, the treasury stock may be resold by either