Thai Company shareholder meetings. There are 2 types of shareholder meetings in Thai law. The first is an ordinary shareholders meeting which is normally the annual shareholders meeting of the company. The second is an extraordinary shareholders meeting which can be called at any time. Below we have listed the format for the meetings in Thailand.
If you need more information about registering a business in Thailand then speak to us online or in person at any of our offices in Thailand. The shareholders meetings have two formats and have been added below.
This meeting is normally held once a year by the company. This meeting is normally to ensure the smooth running of the company and to keep the shareholders up to date about the company. What is normally covered would be the following:
– There needs to be approval of the minutes for the last meeting held;
– The directors explain to shareholders what has done over the last 12 months;
– Also the meeting is also used to replace or appoint new directors;
– The shareholders need to approve the balance sheet and profits of the company;
– Note the directors have to view dividends payable by the company to shareholders;
– Change of auditors are done where needed;
– They use the meeting to relay topics which the company wants to relay to shareholders.
These meetings are meetings that do not occur at a fixed time as an ordinary shareholders meeting. These meetings are normally done were an urgent issue has arisen and the shareholders need to be notified to attend to approve changes in the company. Note that at least 20% of the shareholders have to attend the meeting.
Shareholder Meeting Procedures
In order to hold an annual general meeting or an extraordinary shareholders meeting you need to ensure the following to meet the regulations in Thai corporate law:
– You advertise 7 days before the meeting in a local newspaper for an ordinary meeting;
– Also that you advertise 14 days before an extraordinary meeting in a local newspaper;
– You send a registered post notice to shareholders 7 days before the ordinary meeting;
– As well that you send a registered post notice to shareholders 14 days before the meeting
* Note that the annual general meeting must be done within 4 months of the end of the accounting period in terms of Section 1196 of the Act.
** You need to keep all the copies of the registered postal slips to show that the shareholder has been notified of the meeting. Failing this it could create problems later when a decision has been made by the company and not all the shareholders had been notified hence not being able to approve or to disapprove of the actions taken in their absence at the meeting.
Call us today.
You can contact us today for more information and assistance in this regard and we can manage the shareholder notices for you in accordance with the law. With offices in Bangkok and Phuket, we can assist you today in the most cost-effective process to complete your annual general meeting or an extraordinary meeting in Thailand. The information contained on our website is for general information purposes only and does not constitute legal advice. For further information, please contact us.