The Securities and Exchange Commission has ordered embattled More Return Plc (MORE) to clarify inconsistencies in information provided by its board on various issues, including the cost of an international concert it is organising.
In a statement released yesterday, the regulator said that information from MORE's board was "significantly inconsistent" with information disclosed in the company's invitation to a special shareholders' meeting earlier this year.
Inconsistencies were found regarding many issues, including the cost of organising the Rolling Loud hip-hop concert planned for next year. In the board's filing to the Stock Exchange of Thailand (SET) last week, the cost of the concert was estimated at 899 million baht, 36% higher than the figure used in the invitation to the shareholders' meeting.
