Voting at a Shareholder Meeting for a Company Limited in Thailand
If the articles of association (i.e. constitution) of a company limited contain no provision providing that at any shareholder meeting, a proposed resolution which is submitted to the shareholders for approval, shall be decided on a ‘poll’, which means that the votes shall be counted according to the number of the shares held by each respective shareholder (i.e. one share equals one vote) then each proposed resolution shall be decided in accordance with Section 1190 of the Civil and Commercial Code (CCC), which prescribes that: “At any general meeting, a resolution put to the vote shall be decided on a show of hands, unless a poll is, before or on the declaration of the result of the show of hands, demanded by at least two shareholders.” This basically means that unless at least two shareholders demand a ‘poll’ before or […]