SET Announcements

Loxley Plc (LOXLEY) reported that the board of the Communication Authority of Thailand (CAT) has approved that the CAT and Loxley jointly invest in the uplink-downlink business and other related businesses. The company previously reported that it had proposed to jointly invest with the CAT in the telecommunications business including the uplink-downlink service and other related businesses on August 30, 1994. At present, the board of CAT has already approved the proposed joint investment plan. Loxley thus will set up the joint venture company within 90 days from the signing of the joint investment contract. The initial registered capital of the joint venture company is Bt10 million. The holding ratio is as follows, the CAT 49% and Loxley 51%. Loxley will initially invest an amount of Bt5.10 million. The contract is expected to be signed by around January 1995. The joint partners have no connected relationship as announced in accordance with the rules of the SET. The stated joint investment will render services including Satellite News Gathering (SNG), Satellite Video Transmission Uplink, Basebank and Monitoring Operations, and Tape Playing Studio. The services will begin in 1995. Nowadays, the demand trend for information in the region is increasing. As a result, the uplink-downlink services such as the transmission of hot news or of other information to the public quickly will be able to satisfy this kind of demand. Thus, the opportunity is ripe for the joint investors and for Thailand to create for itself a role as a leader and centre of services provision of these types in the region. Finally, the joint investors will receive return on investment in the form of dividends from the net profits of the joint venture. Loxley will report any progress made with the project accordingly. Translated by the Nati