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Apr. 4--THAI STOCK EXCHANGE AMENDS SHARE BUY-BACK RULES: The Stock Exchange of Thailand has amended treasury stock regulations, effective tomorrow, saying that shareholders' approval is required if a share repurchase exceeds 10 percent of a company's paid-up capital.
For share repurchases below 10 percent of capital, firms may request shareholder approval to amend the articles of association giving power to the board.
Prices of shares repurchased must not exceed 115 percent of the average closing price over the previous five trading days. The resale price must not be lower than 85 percent of the average closing price over the previous five days.
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