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Thanachart Capital plans to buy back shares, makes board changes

Thailand's Thanachart Capital PCL announced plans to repurchase up to 6 billion baht of shares and appointed two new directors to its board.

Under the plan, the company will buy back up to 97,045,970 shares. After including 19,467,000 shares it previously repurchased from Aug. 8, 2018, to Feb. 7, 2019, the total number of shares would be 116,512,970 shares, or up to 10% of its total paid-up shares, according to a Dec. 16 release.

In addition, Teeranun Srihong and Prinya Hom-anek resigned as directors on Thanachart Capital's board after being appointed as directors of TMB Bank PCL. The moves came after TMB Bank's acquisition of a 99.96% stake in Thanachart Bank PCL from Thanachart Capital and Bank of Nova Scotia.

To fill the board seats, Thanachart Capital appointed Salinee Wangtal and Thanachart Numnonda as independent directors, with effect from Jan. 1, 2020.

As of Dec. 16, US$1 was equivalent to 30.22 Thai baht.