GC is a Public Company Limited, which is the listed company in the Stock Exchange of Thailand or SET. In this regard, GC establishes strategic direction in our business and strictly complies with the good corporate governance principles which is in line with criteria, regulations, and rules issued by SET and the Securities and Exchange Commission (SEC). To achieve this, GC discloses its structure of majority shareholders in the below table.
Top 10 shareholders
(Information as of February 28th, 2023)
|Top 10 Shareholders||# of Shares||%Holding|
|1. PTT Public Company Limited||2,037,220,915||45.18%|
|2. Thai NVDR Company Limited||344,333,936||7.64%|
|3. Siam Management Holding Company Limited||135,240,000||3.00%|
|4. SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED||96,311,037||2.14%|
|5. HMC Polymers Company Limited||83,427,636||1.85%|
|6. STATE STREET EUROPE LIMITED||57,737,901||1.28%|
|7. Social Security Office||57,006,771||1.26%|
|8. THE BANK OF NEW YORK MELLON||51,280,980||1.14%|
|9. NORTRUST NOMINEES LIMITED-NT0 SEC LENDING THAILAND CL AC||46,100,682||1.02%|
|10. Bangkok Synthetics Co., LTD.||43,420,625||0.96%|
PTT Public Company Limited (PTT) holds 45.18% of GC total shares, and the Social Security Office holds 1.26% of GC total shares. As the Ministry of Finance is the major shareholder of PTT holding 51.11% of PTT total shares, PTT is classified as government institution under OECD definition. Therefore, GC has 24.35% governmental ownership on a pro rata basis.
GC has recognized the significant of the right of shareholders principles, which can be found in Corporate Governance and Business Code of Conduct Handbook Corporate Governance and Business Code of Conduct Handbook (page 31). GC shall not engage in any action which will violate or diminish the rights of the shareholders. To this end, GC has established the corporate governance policy and disclosed to the public through the various channels of the Company. GC also supports and encourages the exercising of shareholders' rights for the best interests of shareholders as follows:
- GC provides shareholders with clear, up-to-date information of importance and pertinence to its business operations. To this end, it also discloses information deemed necessary, albeit not legally required, on its website and via the portal of the Stock Exchange of Thailand (https://www.set.or.th/set/companynews.do?symbol=PTTGC&ssoPageId=8&language=en&country=US).
- 2. The annual general meeting of shareholders must be held annually. In 2023, GC held the 2023 Annual General Meeting of Shareholders (AGM) at 9.00 hours on April 7th, 2023, through electronic means (E-AGM) according to Emergency Decree on Electronic Meetings B.E. 2563 (2020). GC shall ensure convenience for attending shareholders prior to the meeting, on the day of meeting and after the meeting accordingly. This includes the rights of shareholder to submit inquiries in advance of the annual general meeting of shareholders. GC shall ensure that all shareholders are granted the basic voting rights in all agenda items and are given the equal rights to submit inquiries and express their opinions. All expressed questions and opinions during the meeting shall be fully recorded in the minutes of the annual general meeting of shareholders.
- 3. GC provides an opportunity for single or a group of shareholders holding at least of 0.1 of total GC shares with eligible voting rights to propose agenda items and nominate qualified candidates to be elected as Directors with clear criteria and steps specified prior to the annual general meeting of shareholders. In this regard, GC allowed shareholders to propose agenda items and nominate qualified candidates to be elected as Directors for the Annual General Meeting of Shareholder for the year 2023 from September 15th to December 31st, 2022.
Minutes of the Annual General Meeting of Shareholders 2023Minutes of the Annual General Meeting of Shareholders 2023
Detail of shareholder rights can be found under the topic of Shareholder Rights on page 136-137 in Form 56-1 One Report 2022.Shareholder Rights