ThaiBev, TCC Assets vehemently refuse F&N's capital cut plan

Both groups hold an aggregate stake of ~30.66%.

Here's what ThaiBev's and TCC Assets' SGX announcement said:

Thai Beverage Public Company Limited and TCC Assets Limited, refer to the Notice of Extraordinary General Meeting  dated 6 September 2012 issued by Fraser and Neave Limited and, in particular resolution 2 with respect to the approval of the proposed capital reduction detailed in F&N's Circular to Shareholders dated 6 September 2012.

Prior to the making of this Announcement, the Group and TCCA hold an aggregate stake of approximately 30.66% in F&N. ThaiBev and TCCA wish to announce that, having given due consideration to the proposed Resolution 2, the Group and TCCA will vote against Resolution 2 at the EGM to be held on 28 September 2012.