News wants court to nullify minutes of NMG's AGM
News Network Corp (News), |formerly Solution Corner (1998), and other plaintiffs, yesterday filed a civil suit against Nation Multimedia Group (NMG) asking the court to nullify the minutes of last month's annual general meeting of shareholders.
In a statement submitted to the Stock Exchange of Thailand, Nittimon Hastindra na Ayudhya, chairman of NMG, said News and the other plaintiffs, who hold shares of NMG, were not allowed to attend the annual meeting because there was still a legal dispute on share ownership.
As chairman of the shareholders’ meeting, Nittimon said he had to ensure that the meeting was conducted in an appropriate and orderly fashion. Citing mass media reports, he said, there have been multiple prior incidents leading to News’ and other plaintiffs’ acquisition of NMG shares in a manner that could have violated the law.
As a result, the NMG chairman, given the pending legal dispute on share ownership, decided to ban News’ and other plaintiffs’ representatives from joining the meeting in order to protect the interests of shareholders.
Meanwhile, News and other plaintiffs said in their lawsuit that the annual meeting of shareholders, which took place on April 29 at the Landmark Hotel, was not conducted in accordance with the law as their representatives were barred from attendance.
