GMM Media directors back delisting plan

By The Nation

GMM Media Plc's independent directors voiced their supports to the company's plan to delist from the Stock Exchange of Thailand, saying that the shareholding restructuring plan as proposed by the parent company GMM Grammy Plc is sound and reasonable.

The independent directors - Chai Na Sylvanta, Wanich Jarungidanan, and Dej Bulsuk - said in the filing to the exchange that the restructuring would reduce expenses and create business synergy. Meanwhile, under GMM Grammy's proposed share swap, the ratio is better than GMM Media's share evaluations.

GMM Grammy will issue 40.556 million shares for GMM Media's shareholders, for the share swap at the 1:1 ratio. The company did not offer to buy out the shares.

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GMM Media directors back delisting plan

GMM Media Plc's independent directors voiced their supports to the company's plan to delist from the Stock Exchange of Thailand, saying that the shareholding restructuring plan as proposed by the parent company GMM Grammy Plc is sound and reasonable.

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