SET Announcements

Loxley Plc (LOXLEY) reported that its Board of Directors' meeting resolved in December 26, 1996 to loan Bt875,000,000 subordinate debentures to Thai Telephone and Telecommunication Plc (TT&T), a related company, dued in 15 years from the transaction date. The loan was arranged in the proportion of investment of major shareholders since the date of foundation which was 25% of registered capital, complying with conditions in Amended and Restated Shareholders Support Agreements signed in October 31, 1996. The transaction was related to the SET's bulletin concerning concepts, procedures, and disclosure of the related transaction of the listed companies no. 9 (2). The details are shown in the memorandum enclosed below. Characteristics of the transaction and interest rates Type: Subordinate loan Objectives: To use as a working capital in the operation as stated in the conditions in the Amended and Restated Shareholders Support Agreements signed in October 31, 1996. Amount: Bt1,500,000 Loaner: Loxley Plc loaned Bt375,000,000 Jasmine International Plc loaned Bt375,000,000 Italian-Thai Development Plc loaned Bt300,000,000 Nippon Telegraph and Telephone Corporation loaned Y1,338,927,073 (Bt150,000,000) Phatra Thanakit Plc loan Bt150,000,000 Loanee: Thai Telephone and Telecommunication Plc Term: Payback the whole amount within 15 years from the contract date. Interest rate: MLR+0.5% per year for Thai currency and 4% per year for Japanese currency. Collateral: No collateral Related Directors and executives (As of December 27, 1996) Name Position % holding Position in % holding in in TT&T in TT&T related company related comp. 1.Mr Piroj Lumsum Chairman 0.97 Chairman of Loxley 3.01 2.Mr Thongchai Lumsum Director 0.42 Managing director(Loxley) 1.09 3.Mr Suebtrakul Director 0.00 Deputy Managing Director 0.00 Sunthorntham (Loxley) 4.Mr Sujin Suwanwacheep Director 0.08 Deputy Managing Director 0.05 (Loxley) Translated by the Nation