Software firm takes 12.27% stake in NMG

Meanwhile, NMG Chairman Suthichai Yoon issued a statement regarding the transaction, saying there would be no management intervention from its new major shareholder, and NMG would continue to be a media company with a social responsibility. SLC is also the parent company of Springnews Television, operator of Spring News digital TV channel.

According to SLC’s filing to the Stock Exchange of Thailand (SET), the company said it had acquired 404.99 million shares, equivalent to 12.27 per cent of NMG’s total paid-up shares, at the average price of Bt2.02 per share, and 225 million warrant (NMG-W3) units, at an average price of Bt0.99 per unit. It purchased the NMG shares through the stock market between Monday and Wednesday. 

The firm said the acquisition was a strategic investment.

In the statement, Suthichai said NMG had no involvement in the recent rise in NMG’s share price and SLC’s investment, and there was no significant change in NMG’s business plan.

Suthichai said NMG would abide by its duty to present useful information and news to the society with ethics and responsibility, and any change in the shareholding structure would not affect the NMG management and its work as a responsible media.

“Even in the past there have been new investors in Nation Multimedia Group and we welcome them if there is no interference in the management or conflict of interest with the work of media,” Suthichai said.

NMG president Duangkamol Chotana said that the management team and employees would strictly adhere to media ethics.