Reporters watch Mingkwan on a screen outside MCOT’s shareholders’ meeting.

Mingkwan dismissed rumours that he had already sold his shareholding in MCOT. "I confirm that I continue to hold all the MCOT shares that I have held since the company's debut on the stock market, though I have already resigned from the company," he said.

Mingkwan, along with MCOT's board of directors, resigned en masse to show responsibility for ousted prime minister Thaksin Shinwatra's broadcast on Channel 9 declaring a state of emergency during the coup on September 19.

Thanachai Wongthongsri, MCOT's senior executive vice president, said he could not say at the moment whether the resignations of Mingkwan and the board members have yet taken effect. However, looking solely at the employment contract, they are effective from the date the resignations were tendered, he said.

Whether Mingkwan's resignation has taken effect is a significant factor in his qualifications to return to MCOT, as the company's regulations restrict each president to only two terms. Mingkwan had already extended his second term ahead of his resignation.

At MCOT's extraordinary shareholders' meeting yesterday, most retail shareholders asked Mingkwan to resume his presidency as the company under his leadership had posted strong growth and paid attractive dividends.

The shareholders also cast votes to approve a new board. They are Boonplook Chaiket, Charnchai Soontharamut, Prakit Prachonpachanuk, Sanguan Tiyapaiboonsin, Narong Chokwatana, Somphop Buntaravipaks, Chulayuth Hirunyavasit, Pongsak Payakvichien, Wittayatorn Tokeaw and Wilasinee Phiphitkul. They also acknowledged the resignations of the previous board.

MCOT's executive vice president Chitnarong Kunakridatikarn said the company was contemplating a change in television programming. It will decide on this early next year, as it needs approval from the new board and president, he said.