SET Announcements
24 July 2007
Use of Additional Capital from Warrant Exercise
= TRANSLATION =
Ref: CK-07-0000-PO-L-0171
July 24 , 2007
Subject Use of Additional Capital from Warrant Exercise
Attention President
The Stock Exchange of Thailand
Reference is made to the fact that CH. Karnchang Public
Company Limited had its resolution for the Extra-ordinary of Shareholder No.
1/2546 on November 6, 2003, on additional capitalregistered for another Baht
262,500,000.- by issuing the new ordinary share for 262,500,000 shares. The
aforesaid is to support the warrant issued to the existing shareholders and
then the directors andemployees as apportioned into 210,000,000 shares and
52,500,000 shares, supporting to the exercise ofthe existing shareholders, the
directors and employees respectively. As the warrant will be existed for 3
years, the date of first exercise will be therefore from the last working date
of June 2004 through the last
working date of March 2007.
The Company has scheduled the period for the intention of
warrant for the first exercise through the twelveth exercise whereby having
the exercisers totaled 262,012,169 shares which valued Baht 4.50.- per share
and receiving totally Baht 1,179,054,760.50.- for the exercised share value.
Presently, the Company has already used the above-mentioned
additional capital as for working capital of Baht 301,912,718.23 and having
amount of Baht 877,142,042.27 left, in accordance with the Company s
objectives that has informed in the prospectus offering to sell warrant as to
purchase the ordinary share accordingly.
The General Ordinary Shareholder Meeting of 2005 dated April
7, 2005 resolved to approve the Company to increase its registered capital for
Baht 137,500,000, divided into 137,500,000 shares at a par value of Baht 1 per
share that to be the registered capital of Baht 1,450,000,000 divided
into 1,450,000,000 shares at a par value of Baht 1 per share. This is to
allocate 3,500,000 ordinary shares reserved for the warrant exercise in order
to purchase the Company s ordinary shares (CK-W1) and to
allocate the remaining ordinary shares of 134,000,000 shares offering to sell
for private placement or for institutional investors in accordance with the
Notification of the Securities and Exchange Commission. The Company has
afterwards sold out of the increasing ordinary shares for private placement
who are the institutional investors for 134,000,000 shares at a par value of
Baht 10.76 that receiving the totaled share value of Baht 1,441,840,000. Such
procedure would not affect the right to warrant exerciser and that is to
adjust right which the exercise ratio may be increased from the existing
exercise so this should not allocate the 3,500,000 ordinary shares reserved
for the mentioned warrant exercise.
The Company has already used the money in expanding on
business and as the working capital of the Company for Baht 641,771,371.43 and
balanced for Baht 800,068,628.57 in accordance with the Company s objectives.
Hence, please be informed accordingly.
Sincerely yours,
= Signature =
(Mr. Plew Trivisvavet)
Chief Executive Officer
