Dusit Thani shareholders reject bid to remove Chanin Donavanik from board

Dusit Thani Plc reported the results of its Extraordinary General Meeting (EGM) 1/2025, held on September 26, 2025, where shareholders approved the financial statements ending December 31, 2024.

However, the motion to remove Chanin Donavanik from the board was not approved, as the number of votes in favour did not reach the required three-quarters majority of shareholders present and entitled to vote.

During the session, 42 shareholders voted in favour, including Chanat and Children Co Ltd, a major shareholder, representing 425,356,690 votes (79.61%). Nevertheless, 420 shareholders attending the meeting, representing 86.9565% of votes cast, voted against the motion, resulting in the proposal’s rejection.

Additionally, the meeting postponed consideration of the agenda items regarding increasing the number of directors, appointing new directors, and changing board powers to December 4, 2025 at 14:00 via electronic meeting (E-Meeting) only. This was done to await guidance from regulatory authorities after minor shareholders submitted letters to the meeting chairman, raising concerns with the Securities and Exchange Commission and the Trade Competition Commission of Thailand regarding potential collusion to control company operations without a formal tender offer, which could constitute anti-competitive behaviour or monopoly practices.

Dusit Thani Plc emphasised that the EGM was conducted in a transparent manner, respecting shareholder rights. The company remains committed to implementing its business strategy to maintain confidence among shareholders, investors, and business partners.