Notification of Repurchase and Cancellation of Bonds
Ref. No. COR:MS/EL10023e/pc
19 July 2010
Subject: Notification of Repurchase and Cancellation of Bonds
To: The President of the Stock Exchange of Thailand
Ref: Disclosure of Information No. COR:MS/EL07020e/pc dated 20 September 2007 in relation to the Issue of US Dollar Denominated Convertible Bonds to Investors Outside of Thailand
With reference to the USD169,800,000 2.5% Convertible Bonds due 2012 issued and offered to investors outside of Thailand on 24 September 2007 (the "Bonds"), Thoresen Thai Agencies Public Company Limited ("TTA") would like to announce the repurchase and cancellation of a portion of the outstanding Bonds amounting to USD 10,500,000 (Ten Million and Five Hundred Thousand) in an aggregate principal amount of the Bonds representing 9.26% of the outstanding principal amount of the Bonds (USD 113,400,000).
The aggregate principal amount of the Bonds remaining outstanding after the repurchase and cancellation of the Bonds is USD 102,900,000 (One Hundred Two Million and Nine Hundred Thousand) with the conversion price of the Bonds being Baht 51.41. In any event, TTA may continue to repurchase a portion of the Bonds as it deems appropriate.
Thoresen Thai Agencies Public Company Limited
M.L. Chandchutha Chandratat
President & Chief Executive Officer
Ms. Thitima Rungkwansiriroj
Executive Vice President
Group Finance and Accounting