DDD clearing up the rumors about fake orders and investigation by the SEC, claiming the speculations untrue and unfounded.

Stocks and Financial Services Press Releases Friday July 20, 2018 16:33
Bangkok--20 Jul--The Way Communications

"Do Day Dream" denies the rumors about fake orders and its being investigated by the SEC. It insists that it always ensures strict compliance with rules and regulations and has in place its external auditor that is internationally recognized while foreseeing the purchase of additional shares at reasonable prices.

Mr. Piyawat Ratchapolsitte, Chief Financial Officer of Do Day Dream PLC. (DDD), the founder of Snail White skincare products, discloses that the Company would like to clarify untrue rumors appeared in the newspaper of which the content referred to the Company's being examined on fake orders and investigated by the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC) together with the ability and audit work of the Company's auditor and the disposal of shares held by the majority shareholder.

The Company insists that it has never been investigated by the SET and SEC about fake orders and has strictly complied with all the rules and regulations of the SET and SEC while having in place the audits conducted by the Audit Committee and internal audit unit on a regularly basis and in accordance with the good corporate governance principles as guidelines for its business operations.

The Company has also developed revenue recognition criteria that properly meet international accounting standards and has been audited by the external auditor who is recognized at the international level. In addition, the Company has seen in recent years continuous growth in market share, based on the data from The Nielsen Company (Thailand) Ltd.

Regarding the issue of the disposal of stake held by the Company's majority shareholder, the Company would like to affirm that Mr. Sarawut Pornpatanarak, the Company's Chief Executive Officer (CEO), who is currently the Company's largest majority shareholder has never disposed of his stake. With strong confidence that Company has greater potential for continuous growth, he therefore intends to maintain his shareholding and seek opportunities to purchase additional shares at reasonable prices. In fact, Mr. Sarawut Pornpatanarak and his family hold a 68.62% share of the Company (Referring to the data on the registration book closing as of 12 March 2018).


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