GULF denies takeover bid for Kasikornbank, remains shareholder

Prachachat•Economy•1d ago

Reader Briefing

GULF Energy Development Public Company Limited has denied any intention to manage or control Kasikornbank, reaffirming its position solely as a shareholder.

•GULF Energy Development Public Company Limited issued a clarification to the Stock Exchange of Thailand.
•The company stated it has no policy to take over the management of Kasikornbank.
•GULF confirmed its status as a shareholder and its adherence to good corporate governance principles.
•The company emphasized that business policy and management direction are the responsibilities of Kasikornbank's board and management.

Overview

•GULF Energy Development Public Company Limited clarified to the Stock Exchange of Thailand that it has no policy to manage Kasikornbank.
•GULF Energy Development Public Company Limited confirmed its status as a shareholder and reaffirmed its previous statements.
•GULF Energy Development Public Company Limited stated it has not contacted or coordinated with Kasikornbank regarding its business policies, management structure, or operations.
•GULF Energy Development Public Company Limited affirmed awareness of good corporate governance and ethical principles for listed companies.
•GULF Energy Development Public Company Limited stated it has no policy to be involved in setting the bank's policies or management.
•GULF Energy Development Public Company Limited receives performance and other information from Kasikornbank management and investor relations equally, like other shareholders.
•GULF Energy Development Public Company Limited will consider exercising its shareholder rights proportionally to protect the interests of Kasikornbank shareholders and its own shareholders.
•GULF Energy Development Public Company Limited reflected concerns about the current economic conditions, including uncertainty in economic recovery and interest rate direction, and proposed prudent business operations and risk management to Kasikornbank management.

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Source: Prachachat (Original)

Key Quotes

GULF

"The company has no policy to participate in setting the bank's policies or management."

บริษัทไม่มีนโยบายที่จะเข้าไปมีส่วนร่วมในการกำหนดนโยบายหรือการบริหารจัดการของธนาคาร

GULF

"The company is aware of good corporate governance and ethical principles for listed companies."

บริษัทตระหนักในหลักเกณฑ์การกำกับดูแลกิลกิจการที่ดีและธรรมาภิบาลของบริษัทจดทะเบียน

Key Entities

Organization

GULF Energy Development Public Company Limited(GULF)ℹ️

A shareholder of Kasikornbank clarifying its non-involvement in management

Kasikornbank(กสิกรไทย)ℹ️

A bank in which GULF Energy Development Public Company Limited is a shareholder

Stock Exchange of Thailand(ตลาดหลักทรัพย์ฯ)ℹ️

The regulatory body to which GULF Energy Development Public Company Limited issued a clarification