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Picnic's MD quits, raising controversy: Management problem feared.

Bangkok Post (Bangkok, Thailand)

| June 02, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Nuntawun Polkuamdee

Jun. 2--Picnic Gas and Engineering Plc announced yesterday that Theeratchanon Lapvisutisin would step down as a director and managing director, effective June 16.

Mr Theeratchanon announced his resignation in a statement to the Stock Exchange of Thailand. No reason was given for the decision.

Picnic shares have been suspended from trade on the SET since May 17. The company is one of five listed companies that failed to submit their first-quarter financial statements by SET deadlines.

The Securities and Exchange Commission earlier directed Picnic to amend its 2004 financial statements after regulators raised ...

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Source: HighBeam Research, Picnic's MD quits, raising controversy: Management problem feared.

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