ENTH

News

Share Capital Increases of Subsidiaries

Back Dec 19, 2007

Ref: COR:MS/EL07031e/ms

19 December 2007

Subject: Share Capital Increases of Subsidiaries

To: The President of the Stock Exchange of Thailand

Thoresen Thai Agencies Public Company Limited ("TTA") hereby confirms that Thoresen Shipping Singapore Pte. Ltd. ("TSS"), a wholly owned subsidiary of TTA, and Thor Friendship Shipping Pte. Ltd., a wholly owned subsidiary of TSS, have increased their share capital as follows:

Name of Company
Thoresen Shipping Singapore Pte. Ltd.
Thor Friendship Shipping Pte. Ltd.
Registered & paid-up share capital before capital increase
SGD 53,600,000
SGD 5,000,000
No. of shares before share capital increase
53,600,000 shares
5,000,000 shares
Registered & paid-up share capital after share capital increase
SGD 58,900,000
SGD 10,300,000
No. of shares after share capital increase
58,900,000 shares
10,300,000 shares
Par value per share
SGD 1
SGD 1
Source of funds
From working capital of TTA
From share capital of TSS
Value of Investment by TTA and TSS
SGD 5,300,000 or Baht 123,384,000.00, using a SGD/THB exchange rate of 23.28
SGD 5,300,000 or Baht 123,384,000.00, using a SGD/THB exchange rate of 23.28
Purpose of share capital increase
For share subscription of newly issued shares of TSS
For 2nd instalment payment of new build vessel to Oshima Shipbuilding Co., Ltd. Ltd., which was reported to the SET on 20 December 2006 ref: COR:MS/EL06022e/ms
Percentage of shareholdings before and after share capital increase
100% held by TTA
100% held by TSS
Date of share capital increase in Singapore
17 December 2007
18 December 2007

Please be informed accordingly.

 

Yours faithfully,
Thoresen Thai Agencies Public Company Limited

 

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M.L. Chandchutha Chandratat
Managing Director
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Ms. Nuch Kalyawongsa
Director, Group Finance/Accounting

Attachments

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