Stormy scenes at the NMG meeting on April 29, 2015 as some shareholders try to get into the meeting room at the Landmark Bangkok Hotel but are blocked by security guards employed by management. (Photo by Thanarak Khunton)
The Security Exchange Commission has banned eight directors and executives of Nation Multimedia Group Plc (NMG) for improper conduct over the blocking shareholders from attending a meeting last year.
Pakorn Borimasporn, Chaveng Chariyapisuthi, Adisak Limprungpatanakit, Kaemakorn Vachiravarakarn, Pana Janviroj, Duangkamol Chotana, Sermsin Samalapa and Suthichai Yoon were banned from taking positions at the company from Thursday, the commission said in a statement.
The decision came after public prosecutors decided in August to prosecute them on grounds that they had denied the right of certain shareholders to attend the shareholders’ meeting and deprived other shareholders of their voting right at the meeting on April 29, 2015.
At the time NMG was in a dispute with MAI-listed __news Network Corporation Plc, formerly Solution Corner (1998), after __news bought a 12% stake in 2014.
NMG executives blocked more than half the shareholders from attending the meeting.
NMG shares dropped 1.79% to close at 1.10 baht on Thursday.
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