Mr. Kittipong Puangmala, Chief Executive Officer of Smothong Group Public Company Limited (SET: SMO), has addressed recent media reports naming the successor to the company’s executive management as a major shareholder.
He stated that the decision reflects the company’s intention to lay a strong foundation for ongoing business continuity and future growth, highlighting the commitment to passing leadership to the next generation and ensuring the long-term strategic vision.
This is to reinforce confidence in the company’s ability to move forward, while maintaining its mission and vision of responsible and sustainable business operations for all stakeholders, including partners, investors, shareholders, and relevant organizations. Importantly, the company stressed the value it places on good governance, transparency, and responsible management to achieve sustainable growth.
Additionally, SMO confirmed that the families of the three principal shareholders, along with all members of the management team, have entered into an agreement not to sell any of their shares—a complete 100% lock-up—prior to the company’s IPO.
This is to assure investors that the major stakeholders and management have strong confidence in the company’s prospects and are committed to sustainable growth and delivering appropriate returns to investors in the future.
