The SEC urged ETC shareholders to study the information before voting on ETC's 330m-baht purchase of BWC shares from BWG at a meeting on 6 October. The independent adviser (IFA) said the price is 11.77-30.56% above its DCF valuation of 252.87-295.38m baht and recommended rejecting it; ETC's board argues the adjusted book value supports the price. Under the new related-party rules effective 1 July 2026, objections from 10% or more of attending voting shares can block the deal. This is a listed-company governance story with little direct effect on a small business, though it shows the new blocking mechanism exists.