Bangkok, October 15, 2015 ? The SEC is seeking public comments on the proposed revision to the tender offer rules concerning shareholders? approval (whitewash resolution) for business takeover and other related rules. 

The draft amendment, having previously undergone a focus group consultation, aims to remove impractical procedures and enhance consistency of relevant provisions under the principle of sufficient disclosure to support shareholders? decision making. There would be no changes to the key principles or the obligations in relation to tender offer.

The whitewash resolution amendment includes provisions on shareholding of acting-in- concert parties and measures against persons failing to meet the conditions for tender offer waiver. Other related rules proposed for revision involve financial advisor independence from the target company and the tender offeror with regard to fair value appraisal. 

The consultation paper is available at www.sec.or.th. Stakeholders and interested parties are welcome to submit comments through the website or facsimile at 0-2263-6099 or email address at corgov@sec.or.th. 

The public hearing ends on October 31, 2015.