The investment in subsidiaries
28 June 2006
Tor.12/2549 June 27, 2006
Subject: The investment in subsidiaries
To: President
The Stock Exchange of Thailand
Loxley Public Company Limited ("the Company")
would like to report on the resolutions made at the Board
of Directors' Meeting No.3/2006 held on June 27, 2006
passed the resolutions to establish the subsidiaries details
as follows:
1. Establish the Company to consult and provide
the security management system
Registered Capital : Baht 100,000,000 (divided into
1,000,000 ordinary shares at the par
value of Baht 100)
Shareholding Structure :
- Loxley Public Company Limited 522,500 shares (52.25%)
- ICTS Europe Holdings B.V. 265,000 shares (26.50%)
- Virachai Group Co., Ltd. 212,500 shares (21.25%)
Source of Fund : Working capital of the Company
Expected benefits return : Dividend and expand other
related businesses in the future
Size of Transaction : 0.54% based on total amount
of compensation benchmark
(the Financial Statement as at
March 31, 2006), and not considered
as the transaction according to the
announcement of Securities and
Exchange Commission of Thailand,
in the terms of rules, procedures,
and disclosure of acquisition and
disposal of Listed Company Limited.
2. Establish the Company of full cycle agriculture
-industrial business
Registered Capital : Baht 15,500,000 (divided
into 155,000 ordinary shares at
the par value of Baht 100)
Shareholding Structure :
- Loxley Public Company Limited 155,000 shares (100%)
Source of Fund : Working capital of the Company
Expected benefits return : Dividend and expand other
related businesses in the
future
Size of Transaction : 0.16% based on total amount
of compensation benchmark (the
Financial Statement as at March
31, 2006), and not considered as
the transaction according to the
announcement of Securities and
Exchange Commission of Thailand,
in the terms of rules, procedures
, and disclosure of acquisition
and disposal of Listed Company
Limited.
Please be informed accordingly.
Yours sincerely,
Loxley Public Company Limited
(Mr.Pichai Mooputtarak)
Secretary of Board of Director