CLARIFIES PUBLISHED NEWS CONCERNING ITS SHARE OFFERING
The Bangchak Petroleum Plc (BCP) give an elucidation on news in the Poo Jad Karn Rai Won Newspaper as of July 21, 1996 concerning the offering of BCP's shares held by the Finance Ministry and PTT totalling 31%. Demanding to raise BCP's status to be privatised, at the cabinet meeting held on October 17, 1996, it was resolved to issue BCP's shares which will lead to efficiency in the company's business expansion. The cabinet's securities trading board of directors will be responsible for this issue. The company was later informed by the board of directors that the Bureau of Crown Property, The Industrial Finance Corp. of Thailand (IFCT) and many private sector individuals are interested in BCP's shares. However, the board of directors plan to issue 10% of the said shares to the general public and small private sectors to give them a chance to be a BCP owner.