Published On: Sat, Jun 4th, 2011

Thailand SEC Board Chairman Vijit Supinit Resigns

Thailand SEC Board Chairman Vijit Supinit today submitted his resignation to be effective on June 3, 2011.

According to the news reports on the statement of an executive of Thoresen Thai Agencies Public Company Limited (TTA), a group of investors has claimed to (1) have collectively purchased approximately 30 percent of TTA shares, (2) expressed the intention to change certain directors and executives and (3) proposed for change of nature of business undertaking of the company.

The statement also includes details on the date of negotiation on the aforesaid matters and the list of such group of investors which includes Mr.Vijit Supinit.

The SEC Board Meeting No. 6/2011 held today, therefore, has taken this matter into consideration and assigned the Audit Committee to consider two issues for the SEC Board’s further consideration: (1) the necessity for amendment to the SEC Governance and Code of Conducts; and (2) the necessity for prohibiting SEC Board members from holding positions in businesses in the capital market.

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