Mr Charoen declared that him and his entities, will vote against the capital reduction scheme proposed.
This will leave shareholders in the company at the whim of Mr Charoen, if he successfully get his 50%.
His actions will likely aggravate Kirin and other shareholders and potentially open up the board members to other proposal ie from Coca cola. However, as time passes, the chances of a suitor/bidder emerging seems to diminish. Unless of course the board actively looks out for a white knight.
Again I must say, the board have been punched left right and centre. Its high time they become more proactive and help safekeep the interest of the minority shareholders.
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