REPORTS ITS JOINT INVESTMENT

12 กันยายน 2539
Loxley Plc (LOXLEY) reported that at its meeting, held on September 11, 1996, the board of directors resolved to joinly invest with Bangkok Telecom Co.,Ltd.(BTC) to incorportate Thai Fiber Optic Co.,Ltd., to make fiberglass cable. The newly incorporated company will have a registered capital worth Bt100 million. LOXLEY will invest Bt40 million or equivalent to 40% of registered capital and the remaining 60% was taken by BTC. The company used working capital as the source of funds for the investment. Additionally, the company will regain its investment in the form of dividends as well as capital gains. The transaction was equal to 1.19% of the company's assets which does not fall under the SETs rules. It was also not considered a connected transaction.