SET Announcements

Bangchak Petroleum Plc (BCP) clarified a published report concerning the shares allocation to community organization, saying that the issue was in line with the resolution made at the Cabinet meeting on October 17, 1995. The Cabinet agreed to allocate 31% shares of BCP, held by the Finance Ministry and Petroleum Authority of Thailand to the community organizations. The 10% share will be allocated to the Industrial Finance Corporation of Thailand and the Crown Property Bureau. Another 20% shares will be allocated to general investors. The Finance Ministry has proposed the allocation of shares to general investors in the financial resources (stocks) distribution measure, which is one of the measures in its financial master plan for the society. BCP will be the pilot company in the project and the government will support the local community organization to hold as much shares in BCP as possible. The move would help develop the community and the society and thus bring benefits to the country. This will also be beneficial to the company because the users themselves own the business and the company has access to large consumer base. BCP said the above issue is under the operational process. Translated by The Nation