Following news reports that a group of Thorsen Thai Agencies PCL (TTA) shareholders had requested a special shareholders’ meeting and a change in the firm’s operations and management team, The Stock Exchange of Thailand (SET) President Charamporn Jotikasthira emphasized that the investors should take care in appointing proxies in this matter, including informing themselves as to the matters to be discussed and ensuring that their proxies acted in accordance with their wishes.
The SET has been closely monitoring the issue since May 23. and received clarification from the firm on May 26. On May 27, the media reported the names of alleged shareholders involved in this matter. Thus, the SET is working closely with the Securities and Exchange Commission (SEC) to update information on TTA’s shareholders, including trade data of all concerned parties, for the SEC’s consideration, especially if TTA holds a shareholders’ meeting soon.
In response to news reports that shareholders are being asked for their proxies on this matter, the SET stressed that investors should use due care to ensure that the persons appointed would act in accordance with the investors’ wishes.
“These issues are having serious effects on the Thai capital market’s credibility. The SET is working closely with the SEC to fully investigate and clarify the matter without delay”, concluded Charamporn.