The Company’s Board of Directors formulates the shareholders’ right protection policy in writing in 2006. The policy emphasizes on allowing shareholders to have equal rights to have access to the Company’s operational performance; and to participate in important decisions making, as well as protecting, promoting, encouraging but not to infringe shareholders’ rights. The policies are as follows:
The Board of Directors and the Management have implemented the policy relating to shareholders’ right that covers more the rights than those required by law, especially the right to general and significant information. At the Annual General Meeting of the Shareholders for the year 2019, the Company provided the shareholders with sufficient opportunity to study the information to the meeting date via the Company’s website. Such information was also published in both Thai and English similar to the hard copy the Company submitted to shareholders.
To deliver to the documents of the Annual General Meeting of Shareholders (“Meeting”), the Company assigned the Thailand Securities Depository Company Limited (TSD), which is the Company’s share registrar, to distribute the invitation to the Meeting to all shareholders 14 days prior to the Meeting date in order to provide shareholders with sufficient time to study the information. Such delivery period of meeting documents was more than that specified by the applicable laws.
At the Meeting, the Company facilitated shareholders to exercise their rights to attend the meeting by implementing a barcode system for registration and vote counting, as well as providing the revenue stamps for proxy authorization. The label of registered shareholder was provided for access convenience while meeting, without time loss to recheck their documents.
In addition, at the Meeting, for the purpose of transparency and good corporate governance imposed by Securities and Exchange Commission Thailand (SEC), the Company has invited shareholders to witness the vote-counting. There were no shareholders volunteered, but there was Miss Nanthana Thamtherdthai, legal advisor from Hunton Andrews Kurth (Thailand) Limited to witness the vote-counting.
Furthermore, the Company has informed the Meeting the number and ratio of attending shareholders either by themselves or by appointment of proxies, the procedures of vote-casting, vote-counting, including notification of voting result.
After the Meeting of the Shareholders for the year, the Company compiled the document, including agenda, meeting resolutions, voting results, questions and shareholders’ opinion expressed at the meeting, so as to provide “The minutes of Annual General Meeting of the Shareholders for the year 2019” for publishing on the Company’s website is in compliance with the regulations of SEC and SET.
The Company provided upon requested the video of meeting atmosphere in soft file for publishing on the Company’s website for shareholders who could not attend the meeting, apart from the minutes publicized in the channel of SET and the Company’s website.
Through publishing all information on the Company’s website prior to the Annual General Meeting of the Shareholders, the Company’s Board of Directors supported and not to infringe the shareholders’ rights exercise while the Company did not distribute additional document containing significant information during the meeting, or add or change meeting agenda or amend significant information without advance notice. There has been no complaint from shareholders on this case.
The Company facilitated the shareholders and shareholders’ proxy to register attending the meeting by implementing a barcode system for registration and vote counting as well as distributing voting ballots to the shareholders before meeting.
The Company clearly stated shareholders’ meeting rules and process in the meeting invitation. The moderator of the meeting also informed the attending shareholders of the rule and voting process at the meeting. The shareholders’ meeting minutes also included a record that the meeting was informed of the rules and voting process.
Moreover, the Company invited its shareholders to exercise their right to visit its factory. Regularly, the Company updates current information and data published on its website.
The Chairman of the Board of Directors asked the meeting at the end of each agenda whether the shareholders ask questions related to the meeting agenda or related to the Company, whereby they could openly express their opinion. Any questions related to the meeting agenda or the Company together with shareholders’ opinion as well as the answers or clarification made by the Board of Directors or the Company’s management, were entirely recorded in the minutes.
The Company provided recording sound of the shareholders’ meeting, and disclosed the significant matters arising during the meeting in the meeting minutes for reference in the future and enables shareholders who could not attend the meeting to follow up the meeting particulars.
With fully respect of shareholders’ right, the attendance of all 11 Directors, including Chief Executive Officer, and Chief Financial Officer, comprised 12 members attended the Annual General Meeting of the Shareholders for the year 2019.