Bangchak Clarifies Share Seizure Tied to Money Laundering Case

Bangchak Corporation reiterated that the partial seizure of its shares since December 3, 2025, is a government action related to a specific shareholder, involving shares held by an international money laundering network, and is separate from the company's assets, business operations, and management, which are not connected to the case. The seized shares remain under seizure and AMLO custody, while the company's remaining shares show no link to the alleged offenses. The company has continuously taken measures to protect its interests and those of its shareholders, establishing a special committee to assess the situation and consider necessary actions. Regarding the representative director of that shareholder, they have not attended board meetings or performed any duties at the company since the shares were seized. Although they retain director status as they have not lost legal qualifications, they have had no authority to sign binding documents for the company since December 11, 2025, as previously communicated. Additionally, the company proposed amending director qualification rules at the 2026 Annual General Meeting on April 10, 2026, to enhance governance standards, prevent damages, reduce further risks, and build confidence among financial institutions, partners, and business stakeholders. Although the motion received more than two-thirds support, it did not meet the three-quarters threshold required by law and was not approved. Litigation challenging this outcome is currently under court consideration. The company continues to manage risks within legal frameworks, corporate governance principles, and relevant regulatory guidelines. Bangchak affirms its readiness to cooperate with relevant agencies and will proceed in accordance with the law and SEC guidelines, upholding good governance, protection of interests, and the long-term rights of the company and its investors.