NMG to urge SEC to press charges against NEWS execs

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/business/NMG-to-urge-SEC-to-press-charges-against-NEWS-exec-30290543.html

Nation Multimedia Group (NMG) plans to ask the Securities and Exchange Commission (SEC) to consider bringing charges against executives of News Network Corporation (NEWS) and Polaris Capital over their decision to push their companies into acquiring shares in NMG. Their actions had led to their companies face investigation by the SEC for alleged intention to take over a business in a manner that did not comply with relevant laws and regulations, NMG’s legal adviser Preechaya Ibrahim said.

Regarding NEWS pressuring the SEC to charge NMG executives for prohibiting some shareholders from voting in the annual shareholders’ meeting last April, Preechaya said the case was in court at the appeal stage. This means any activities in accordance with the annual shareholders’ meeting last year are still valid, he said.

At the AGM on April 29 last year, major shareholders from both sides – Suthichai Yoon and Sermsin Samalapa from NMG, as well as the new shareholding group NEWS and its allies – were prohibited by the then-NMG chairman Nittimon Hastindra na Ayudhya from voting to ensure fairness.

The Phra Khanong Provincial Court ruled on May this year to nullify the 2015 annual general meeting of the NMG shareholders. The ruling followed a petition by NEWS representatives requesting a court authority to void the results of the NMG meeting. NMG has appealed against the verdict.

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