Seven shareholders are needed by law for the registration of a new Public Limited Company (PLC). Let's say there are six Thai shareholders holding a total of 51% of the shares and one Italian shareholder holding 49%. What happens if after some years four of the Thai shareholders sell their shares to one of the other Thai shareholders, thus leaving two Thai shareholders holding 51% and one Italian holding 49%. Does the law allow this?

Seven shareholders are needed by law for the registration of a new Public Limited Company (PLC). Let's say there are six Thai shareholders holding a total of 51% of the shares and one Italian shareholder holding 49%. What happens if after some years four of the Thai shareholders sell their shares to one of the other Thai shareholders, thus leaving two Thai shareholders holding 51% and one Italian holding 49%. Does the law allow this?

I believe the law changed last year, only three shareholders now needed. check with your lawyer.