NMG allies win all 8 vacant seats on board
NATION Multimedia Group’s representatives and allies won eight seats on its board of directors at its extraordinary shareholders’ meeting yesterday, while News Network’s candidate Apiwut Thongkum failed the voting.
The vacancies were created when eight board members of NMG were banned by the securities watchdog from holding director and executive positions in any listed companies.
The eight new directors are Vitoon Puengprasert, Thepchai Yong, Supon Piansiri, Nutwara Saengwarin, Sirichai Chanana, Suphawat Sanguannam, Narawadee Vanichwatthana and Suphapong Sooksapha.
Vitoon and Thepchai each won with 70.44 per cent of total eligible votes, while Supoth and Nutwara won with 70.25 per cent.
Sirichai and Suphawat received 70.24 per cent, Narawadee 70.21 per cent and Suphapong 70.15 per cent.
The four other candidates including Apiwut were not elected. Apiwut received 14.56 per cent of total eligible votes.
About 69.85 per cent of NMG shareholders participated in the extraordinary meeting yesterday. Of them, 5.04 per cent or 54 shareholders attended in person, while 64.81 per cent or 318 shareholders voted through proxies.
Siriwat Worawetwutthik-hun, an NMG shareholder, said that, in his opinion, the election of these eight new directors yesterday proceeded with fairness that should satisfy the Securities and Exchange Commission (SEC).
Although the Civil Court had found NMG’s directors not guilty of prohibiting NMG’s shareholders from taking part in last year’s meeting, these executives followed the authorities’ ban from assuming executive positions and the company held a special shareholders’ meeting to elect their replacements, he said.
If any shareholders have any issues, they should take them to the SEC for further investigation, he said.
“What I pay attention to is transparent management and a company with executives to go ahead with business operations.
“We already see that when directors are elected to manage business operations, NMG’s price edged up,” he said.
Phuwanat Na Songkhla, director of the Thai Investors Association, said the extraordinary shareholders’ meeting of NMG yesterday went smoothly, compared with last year’s meeting.
Although the participating shareholders’ information was inspected, that was usual and the election of eight new directors was completed, he said.
After yesterday’s meeting, the new directors will likely run business operations as most shareholders expected, he said.
NMG’s stock yesterday soared 3.51 per cent to close at Bt1.18.
