Dusit Thani Public Company Limited (SET: DUSIT) convened its Extraordinary General Meeting of Shareholders (EGM) No. 1/2025 on Friday, 26 September 2025, at 15:00 hrs. The meeting was called at the request of Chanut & Children Company Limited, a shareholder holding 49.74% of the Company’s total issued shares.
While the agenda included routine items—such as the adoption of the minutes from the previous Annual General Meeting and the approval of the Audited Financial Statements for the year ended 31 December 2024—market attention was firmly fixed on Agenda 3: the proposal to remove Mr. Chanin Donavanik as a director.
Chanin Donavanik, the son of Dusit Thani’s founder, Chanut Piyaoui, is currently engaged in a corporate and family battle with his two sisters for control of the hotel group. He alleges his siblings are trying to remove him from the board to facilitate an “unjust takeover” by appointing individuals linked to outside interests, such as the Central Group.
Voting Outcome on Agenda 3
The resolution required “a vote of not less than three-fourths of the shareholders present and entitled to vote,” with the number of shares represented being not less than half of those held by shareholders attending and eligible to vote.
- By shareholding:
• Approved removal: 79.6102% (425,356,690 votes)
• Disapproved removal: 20.2093% (107,978,316 votes) - By shareholder headcount:
• Approved removal: 42 shareholders (8.6956% of those present)
• Disapproved removal: 420 shareholders (86.9565% of those present)
Although a large majority of shares voted in favor of removal, the resolution failed because the number of shareholders supporting it fell far short of the required three-fourths threshold. As a result, the proposal to remove Mr. Chanin Donavanik was disapproved, and he retains his position as director.
Postponement of Other Agenda Items
Following the contentious vote, the Chairman postponed consideration of Agenda 4 (increasing the number of directors) and Agenda 5 (amending signing authority). The postponement came after a shareholder submitted a complaint to regulators, including the Office of the Securities and Exchange Commission and the Trade Competition Commission, raising concerns about potential “acting in concert” to gain control without a mandatory tender offer, or actions that could constitute a business merger leading to monopoly issues.
Consideration of these remaining agenda items has been rescheduled to 4 December 2025.
