The Letters from the Group of Shareholders to request the Company to Call for An EGM
Ref. No.: COR:MS/EL11011e/ms
30 May 2011
Subject : Notification regarding the Letters from the Group of Shareholders to request the Company to Call for An Extraordinary General Meeting of Shareholders
To : The President of the Stock Exchange of Thailand
Thoresen Thai Agencies Public Company Limited ("TTA") received letters dated 27 May 2011 from a group of shareholders totaling 75 (seventy-five) shareholders (the "Group of Shareholders") who claimed that they hold 72,212,550 shares representing 10.199 percent of the paid-up share capital of TTA. The Group of Shareholders requested TTA to call for an Extraordinary General Meeting of shareholders (the "EGM") with the following agenda items:
a) To consider and approve the issuance and sale of warrants to purchase ordinary shares of TTA to the existing shareholders pro rata to their shareholding. The Board of Directors may consider other details as deemed appropriate and conforming to the law.
The objective is to increase TTA's liquidity and cash flow and to strengthen its capital base.
b) To consider and approve the change of the fiscal year of TTA from "Beginning on 1 October and ending on 30 September of every year" to "Beginning on 1 January and ending on 31 December of every year.
The objective of changing the fiscal year is that it will be in accordance with other companies to avoid confusion of investors to understand its financial statements and to be comparable with other companies in the same business area.
After receiving letters from the Group of Shareholders, TTA will arrange to review and check the validity of various issues in relation to the submission of the letters of the Group of Shareholders as well as the legality of shareholdings of each shareholder. TTA will further proceed with any actions as prescribed by relevant law and regulations.
To facilitate our shareholders, TTA is now setting up a CALL CENTER to address this matters with following details:
Telephone Number: 02 631-3888
Work Hour: Monday-Friday between 8:00 AM - 6:00 PMThe CALL CENTER will be activated tomorrow morning. (Tuesday 31 May 2011)
Yours faithfully,
Thoresen Thai Agencies Public Company Limited
M.L. Chandchutha Chandratat
President & Chief Executive Officer
Ms. Thitima Rungkwansiriroj
Executive Vice President
Group Finance and Accounting