SEC urges EARTH shareholders to study the meeting agenda on a private placement of shares to former executives
Wednesday 11 March 2020 | No. 49 / 2020
Bangkok, 11 March 2020 – SEC is urging the shareholders of Earth Public Company Limited (“EARTH”) to study the information in the notice of the extraordinary shareholders’ meeting to be held on 15 March 2020 thoroughly, which contains a proposal for an offering of capital shares to the company’s former executives, representing 27.52 percent of the total issued and paid-up shares at the price of 0.0001 baht per share.
EARTH
has disclosed the notice of the Extraordinary Shareholders’ Meeting No. 1/2020 on the company's website, which contains a proposal, as
per a letter from the shareholders, for consideration and approval of an
offering of capital shares for a private placement to Mr. Pisudhi Phihakendr,
Mr. Khajohnpong Khamdee, Mr. Phiroon Phihakendr, Mr. Phipat Phihakendr and Mr.
Phiboon Phihakendr at the amount of 973,241,553
shares at the price of 0.0001 baht per share, totaling 97,324 baht, so that the group of such persons’ shareholding
proportion would be 30 percent.
Since the said matter may have a significant impact
on the rights and benefits of EARTH shareholders, SEC suggests that EARTH
shareholders study the information in the notice of the extraordinary
shareholders’ meeting in detail before attending the meeting on 15 March 2020
and exercising the voting right to protect own interest. They should also ask
the company’s directors and executives to clarify the reasonability of the
offering of capital shares to the group of persons and the price thereof as
mentioned above to gather complete information before making a decision and
passing a resolution.
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