The law requires that all companies publish their notice for their shareholders’ meeting in a local newspaper and send to their shareholders a copy of the notice by returned receipt registered mail at least 7 days before the meeting date. Failure to do so may result in a fine of up to Baht 20,000.
One of the shareholders’ meetings that all companies are required by law to hold is called the Annual General Meeting (AGM), where the company has to have its shareholders approve the Financial Statements of the previous fiscal year and appoint the auditor for the current year. This meeting must be held within 4 months from the accounting year-end. The Ministry of Commerce issued some announcement to stress that companies need to really follow the AGM procedures prescribed by law or they will face some penalties.
If the company’s accounting year-end is 31 December 2010, then the AGM must be held within 30 April 2011. The last day to publish the Notice for AGM is AGM date minus 8 = 22 April 2011. This is also the last day the company can send the copy of the notice for AGM to your shareholders by returned receipt registered mail at the post office.
Usually most companies use cheap newspapers that are in circulation specifically for this purpose of publishing notices for AGM only.
If your company does not have the manpower to take care of the notice for AGM, MSNA can handle it for you for a minimal fee.