SLC sues The Nation executives

SLC sues The Nation executives

Solution Corner 1998 Plc (SLC), a MAI-listed IT service provider, has filed defamation and computer-crime charges against two of The Nation's executives in connection with its recent purchase into the publisher of the English-language daily.

SLC executive Arak Ratboriharn and lawyer Suwat Apaipak file suits against Adisak Limprungpatanakij and Thana Tummanond of Nation Multimedia Group Plc (NMG), which also publishes Thai-language newspapers and produces TV and radio and new-media programmes.

Mr Suwat said Mr Thana had posted on his Facebook that SLC was affiliated with the Shinawatra family and bought his company's shares to influence media. Mr Adisak later re-posted the message, causing confusion among SLC's then prospective investors, some of whom cancelled their subscriptions for SLC's new shares.

To finance the deal, SLC successfully raised 2.19 billion baht by selling new shares to existing shareholders

Mr Suwat added SLC's NMG share purchase and its capital increase had nothing to do with the Shinawatra family. Besides, the 12.27% it has in NMG is too small to dominate the paper or make changes in its management. So far, it has never interfered with management or bargained for ad special rates.

The SLC executives also said the company would press civil charges for damages of around 1 billion baht as well.  

In addition to NMG, SLC has shares in other media companies including GMM Grammy Plc and T-News.

Shares of SLC closed unchanged at 0.09 baht in trade worth 55.04 million baht while those of NMG closed down 0.01 baht to 1.84 baht in trade worth 3.11 million at noon on Friday.

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