Thoresen Thai Agencies Pcl , Thailand's top dry bulk shipper, said on Thursday a group of investors who claimed to own 30 percent of the company were seeking a restructuring of the business and wanted three board members to quit, Reuters reports.Earlier this week, Kao Hun newspaper quoted an unnamed source as saying three big investors were trying to take over the company by buying shares in the market.
The news report sent Thoresen Thai shares to a six-month high on Monday. At 0738 GMT on Thursday, the stock was up 1.8 percent at 22.40 baht, while the main Thai index was up 1.25 percent.
President and CEO Chandchutha Chandratat told reporters the investors had opened discussions with the company's management about the restructuring.
"We got the request from the investors verbally but there is no written confirmation or proposal from the investors," said Chandchutha, refusing comment on the restructuring request and any takeover attempt.
However, the company told the exchange it had no evidence of a major change in its shareholders as of May 13 and it would ask the stock market regulator to look into its shareholding structure.
The shipper, which diversified in recent years when the shipping business was hit by a global oversupply, posted a net loss of 115 million baht ($3.8 million) in the January-March quarter against a net profit a year earlier.
It expected to report a 20 percent drop in revenue in its business year from September to October, based on an expected daily freight rate this year of 10,800 baht per vessel per day, down 17 percent from the average a year earlier, Chandchutha said.
The news report sent Thoresen Thai shares to a six-month high on Monday. At 0738 GMT on Thursday, the stock was up 1.8 percent at 22.40 baht, while the main Thai index was up 1.25 percent.
President and CEO Chandchutha Chandratat told reporters the investors had opened discussions with the company's management about the restructuring.
"We got the request from the investors verbally but there is no written confirmation or proposal from the investors," said Chandchutha, refusing comment on the restructuring request and any takeover attempt.
However, the company told the exchange it had no evidence of a major change in its shareholders as of May 13 and it would ask the stock market regulator to look into its shareholding structure.
The shipper, which diversified in recent years when the shipping business was hit by a global oversupply, posted a net loss of 115 million baht ($3.8 million) in the January-March quarter against a net profit a year earlier.
It expected to report a 20 percent drop in revenue in its business year from September to October, based on an expected daily freight rate this year of 10,800 baht per vessel per day, down 17 percent from the average a year earlier, Chandchutha said.