Bangkok, 6 October 2016 ? The SEC has banned eight directors and executives of Nation Multimedia Group Public Company Limited (NMG) for having improper characteristics as specified in the SEC Notification* after the public prosecutor had charged them in court on account of failure to perform duties by law at the NMG 2015 annual general shareholders? meeting.  

The NMG directors and executives are: (1) Mr. Pakorn Borimasporn, (2) Mr. Chaveng Chariyapisuthi, (3) Mr. Adisak Limprungpatanakit, (4) Ms. Kaemakorn Vachiravarakarn, (5) Mr. Pana Janviroj, (6) Ms. Duangkamol Chotana, (7) Mr. Sermsin Samalapa, and (8) Mr. Suthichai Yoon.

In August 2016, the public prosecutor concluded the consideration of the case and prosecuted the aforesaid persons on the ground that, as NMG directors and executives, they had denied the right of certain shareholders to attend the shareholders? meeting and deprived other shareholders of their voting right at the meeting.

The public prosecutor incorporated the facts and evidence gathered by the inquiry official from the SEC?s proceeding of the criminal complaint against NMG Chairman Nittimon Hastindra Na Ayudhya, who presided over the shareholders? meeting in December 2015, as part of the charge.

The prosecution has resulted in the aforesaid persons unqualified for holding the positions of director or executive of any issuing or listed company while they are under legal proceeding, starting from 6 October 2016.

In this case, the ban was not resulted from a criminal complaint initiated directly by the SEC, but from a criminal charge of the public prosecutor. The SEC had therefore cooperated with the Department of Economic Crime Litigation and consulted legal experts to acquire complete and sufficient facts for consideration of a legal action.

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*Clause 3 and Clause 4(3) of the Notification of the Securities and Exchange Commission No. Kor Jor 8/2553 Re: Determination of the Untrusthworthy Characteristics of Company Directors and Executives dated 23 April 2010.