BANGKOK, May 31 – Stock Exchange of Thailand (SET) President Charamporn Jotikasthira on Monday urged five brokerage houses and the Securities Companies Association to advise shareholders of Thoresen Thai Agencies (TTA), the country’s largest bulk carrier, to consider granting the power of attorney for participation in the extraordinary shareholders’ meeting of the company with caution.
He said SET will examine the TTA clarification that it had received a request made by a group of minority shareholders having a stake of more than 10 per cent to hold the extraordinary shareholders’ meeting.
Mr Charamporn said SET doubted aspects of the shareholding action by the group of minority shareholders, and that it wanted to investigate possible insider trading to manipulate TTA stocks.
The exchange chief’s move came after Thailand’s Minister of Finance Korn Chatikavanij instructed the Securities and Exchange Commission (SEC) and SET to accelerate investigating reports that a group of investors in which SEC chairman Vijit Supinit is involved is making a hostile takeover bid for Thoresen Thai Agencies (TTA), the country’s largest dry-bulk carrier.
Leading English-language newspaper Bangkok Post reported in its Friday’s issue that Thoresen management is ready to consider every option proposed by a group of retail stock investors including a takeover bid for the company.
However, the investors must show evidence to prove they can gather minority shareholders holding 30 per cent of TTA as claimed, said the company, adding that the investor group included SEC Chairman Vijit. (MCOT online news)
