Bangkok, March 28, 2016 ? The SEC has filed a criminal complaint with the Economic Crime Suppression Division of the Royal Thai Police (ECD Police) against (1) News Network Corporation PCL. (NEWS), previously named Solution Corner PCL. (SLC), (2) Polaris Capital PCL. (POLAR), previously named Wattana Capital PCL. (WAT), and (3) Siwasit Sainumphung, for collaborating their separate acquisitions of Nation Multimedia Group Public Company Limited (NMG) shares to achieve the mutual goal of business takeover. 

The SEC?s further investigation after a tip-off has revealed that NEWS, POLAR and Siwasit jointly acquired NMG shares at approximately the same period of time in an attempt to take over NMG business. The three parties? combined acquisitions exceeded any 5 percent trigger point and eventually the 25 percent trigger for a mandatory tender offer of the total NMG shares sold. In so doing, they failed to report their acquisitions, and did not make the tender offer for NMG takeover.

As a result, their actions were in violation of Section 246 and Section 247 of the Securities and Exchange Act of 1992, in conjunction with Section 83 of the Penal Code. The three offenders refused to enter the criminal fining process. The SEC, therefore, filed the criminal complaint with the ECD Police for further legal proceedings. 

In any case, filing a criminal complaint commences the criminal justice administration whereby the consideration whether a defendant is guilty will be proceeded by the public prosecutor, and the court will judge the case, respectively.

Information contained in this news release is as of the aforementioned release date. For those who wish to see current status of the matter,
please go to compliant filed with inquiry officer