Permission of Mermaid's ESOP Scheme by SEC
Ref. No. COR:MS/EL08014e/ms
2 July 2008
Subject : Permission of Mermaid's ESOP Scheme by SEC
Attention: The President of the Stock Exchange of Thailand
Ref: Disclosure of Information No. COR:MS/EL07015e/ms dated 6 August 2007 in Relation to the Issuance and Offer of Warrants to the Employees (including any employee who is a director) of Mermaid Maritime Public Company Limited and its subsidiaries
In the above-mentioned report to the Stock Exchange of Thailand ("SET"), it was noted that on 6 August 2007 at the Extraordinary General Meeting of Shareholders of Thoresen Thai Agencies Public Company Limited ("TTA"), it was resolved that Mermaid Maritime Public Company Limited ("MMPLC") and its subsidiaries issue of up to 3,832,053 warrants to employees (including any employee who is a director) of MMPLC and its subsidiaries.
TTA would like to confirm that on 25 June 2008, the Office of the Securities and Exchange Commission ("SEC") has permitted MMPLC, a 55.29% owned subsidiary of TTA, to issue and offer such warrants to employees (including any employee who is a director) of MMPLC and its subsidiaries under the ESOP scheme.
Yours faithfully,
Thoresen Thai Agencies Public Company Limited
--------------------------------------------------
M.R. Chandram S. Chandratat
Chairman----------------------------------------------------
Ms. Nuch Kalyawongsa
Director, Group Finance/Accounting