On Jan 12, DTAC and True notified the Stock Exchange of Thailand (SET) that their boards approved the calling of a virtual joint shareholder meeting for Feb 23, before moving it to yesterday.
The last trading date of DTAC and True shares was Feb 20, while the first day of trading for the merged company's shares is to be March 3. A total of 11 names were proposed and approved for the board, led by Suphachai Chearavanont, chief executive of Charoen Pokphand (CP), as chairman of the merged company, while four names were proposed for the management, led by Manat Manavutiveth, co-president of True, who will be chief executive. Pisut Ngamvijitvong, senior equity research analyst at Kasikorn Securities, said the meeting met the legal requirements to continue establishing the merged company.
Typically the board of directors formed by a joint shareholder resolution will appoint executives and management. Following the appointment, executives formulate business plans and make proposals to the board for approval, before informing the SET of the details, he said.
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