Former NMG chairman Nittimon Hastindra na Ayudhya yesterday cited his attempt to guard the interests of his company and its minor shareholders, and resist the “illegal” acquisition of NMG shares, by ordering the prohibition of some groups of shareholders from attending and voting in the annual shareholders’ meeting last year.
News Network Corporation had sued the NMG executive for preventing shareholders from attending the general meeting of NMG.
News Network Corp was formerly known as Solution Corner (1998), or SLC.
If the groups of shareholders had attended the general meeting, there would have been resolutions that might have caused damage to NMG, as has been seen in the Securities and Exchange Commission’s move, he said.
The SEC has filed complaints with Economic Crime Suppression Police against News Network Corp , Polaris Capital and Siwasit Sainampueng, accusing them with conspiring to take over NMG without complying with regulations.
Nittimon said he would introduce the SEC order as evidence in court.
Suthichai Yoon, adviser to the editorial board at NMG, said he was ready to fight the charges and prove himself in court, as ‘‘the truth’’ coming out indicated to society that NMG was being illegally taken over by a group of people.
NMG executives have performed their duties with integrity and responsibility for the company, its shareholders and its media professionals, he said.
As of the closing of NMG’s registration book in January 2015, the three parties owned more than 25 per cent of NMG’s shares.
News Network Corp held 12.21 per cent, Siwasit 9.14 per cent and Polaris Capital 7.54 per cent.