Gulf Development Public Company Limited (SET: GULF) has informed the Stock Exchange of Thailand that the submission of the report on acquisition of shares in Kasikornbank Public Company Limited (SET: KBANK), which resulted in the company’s shareholding reaching or exceeding 10% of the KBANK’s total voting rights, was made in accordance with the obligations stipulated under Notification of the Capital Market Supervisory Board TorJor. 28/2554 Re: Requirements Related to Reporting of Acquisition and Disposal of Securities (as amended). The calculation of such relevant voting rights was made based on KBANK’s total voting rights after deducting the voting rights of treasury shares repurchased by KBANK that remained outstanding as of the end of January 2026.
Nonetheless, the aforementioned share acquisition does not result in the company holding or possessing shares in a financial institution in excess of 10% of the total issued shares of such financial institution. For this purpose, the calculation is made without deduction of treasury shares, in accordance with the criteria prescribed by the Bank of Thailand under the Notification of the Bank of Thailand No. 41/2568 Re: Criteria for Approving the Holding or Possession of Shares in Financial Institutions or Holding Companies that are Parent Companies of Financial Business Group Exceeding 10 percent of Total Issued Shares.
Therefore, the acquisition of shares in this instance does not require approval from the Bank of Thailand pursuant to the aforementioned regulation.
