BANGKOK (Reuters) - Share prices of Thai renewable energy company, Energy Absolute (EA), plunged nearly 30% in morning trading on Tuesday after the lifting of a trade suspension following a leadership shake-up.

Shares were suspended on Monday when the company announced changes to its board of directors and senior management after the previous chief executive was accused of procurement fraud, which he denies.

Thailand's Securities and Exchange Commission last week alleged former CEO and the company's founder, Somphote Ahunai, Deputy CEO Amorn Sapthaweekul and a third individual made procurements and received benefits worth 3.5 billion baht ($96.63 million). The named individuals deny the allegations.

The company's stock fell 29.77% to 9.2 baht a share on Tuesday.

On Monday, the company appointed its chairman Somchainuk Engtrakul as acting CEO and new directors to its board including billionaire Chatchaval Jiaravanon, whose family owns the agro-industrial conglomerate Charoen Pokphand Group.

($1 = 36.2200 baht)

(Reporting by Chayut Setboonsarng and Orathai Sriring; Editing by Martin Petty)