PTT Ready to Sue Distributors of Distorted Information Across Various Channels

PTT Corp reaffirms its commitment to good corporate governance, denies accepting tainted capital, and will pursue legal action against those spreading distorted information through various media and social media platforms. According to PTT Corporation Public Company Limited's statement, misinformation, videos, and news reports concerning the company's business operations and investments have been circulating through multiple media channels and social media. The company clarifies that it and its subsidiaries remain committed to conducting business under principles of good governance, transparency, and sound corporate management. All major investments and transactions undergo proper review processes and require final approval from the company's board of directors. However, the company has faced issues with certain shareholders from investor groups whose ultimate beneficial owners cannot be clearly identified and whose stakes have been seized by relevant authorities. Management has acted prudently and diligently to protect the company from risks affecting business operations, including exposure to international secondary sanctions, consulting with international legal advisors to assess necessary actions within legal and governance frameworks. The company proposed amendments to its bylaws in agenda item 7 at the 2024 annual shareholders' meeting in April, which received support from over two-thirds of voting shareholders but fell short of the required 75% threshold under law. Management continues to affirm its commitment to governance, transparency, and rejecting tainted capital through the "PTT Does Not Accept Tainted Capital" initiative communicated to employees and internally. Following this communication, numerous news reports, videos, and content with distorted facts have continued circulating through various media and social media channels, damaging the credibility of management and the company. PTT Corp reserves the right to pursue legal action against those disseminating false, distorted, or unfair information that causes damage to the company, its management, and related parties.