REPORT ON THE ABITRATION RESULT
07 December 2000
Tor.33/2543 6 December 2000
Subject:Report on the Abitration Result
To: President
The Stock Exchange of Thailand
Jago Company Limited ("Jago"), a subsidiary of Loxley Public Company Limited
("Loxley"), report to Loxley that since Jago was executed the Online Tickets project
contract ("Lottery Contract") with the Government Lottery Office ("GLO") but GLO
ordered suspension of the Lottery Contract, Jago subesequenty submitted the dispute
for arbitration. Finally, on 4 December 2000, the Arbitrator Panel unanimously
decided that the GLO is to settle the compensation to Jago in the amount of Baht
2,508,593,718.00 The compensation will bear interest of 7.5% per annum started from
the submission dated of the dispute to the Arbitrator (4 January 2000) until the
outstanding amount is fully paid. GLO is to settle the compensation amount within
60 days after receiving the Arbitral Award. Jago had received the Arbitral Award on 6
December 2000.
Sincerely Yours,
Loxley Public Company Limited
(Ms.Suganya Veerakiatkij)
Senior Vice President
Accounting & Budgeting Dept.