SET Announcements
OMIT DIVIDEND PAYMENT AND SET THE DATE OF AGM
1600 / 041 / 2003
March 19, 2003
The Stock Exchange of Thailand
62, Ratchadapisek Road, Klongtoey
Bangkok 10110
Attention : President of the Stock Exchange of Thailand
Subject : Report on BCP's Board of Directors Resolutions
concerning no dividend payment and
the 2003 General Shareholders' Meeting
The Board of Directors of the Bangchak Petroleum Public
Company Limited has resolved to hold the 2003 Annual General
Shareholders' Meeting on Thursday, April 24, 2003 at 1.30 p.m. at the
Meeting Room of Bangchak's Head Office, 210 Sukhumvit 64 Road,
Phrakanong, Bangkok, to consider the following matters :-
1. To consider and adopt the Minutes of the 2002 Annual
General Shareholders' Meeting.
Opinion of the Board of Directors : It is appropriate to
propose to the Meeting to adopt the above-mentioned minutes.
2. The Board of Directors to report on the Company's
operating performance in 2002 for acknowledgment.
Opinion of the Board of Directors : It is appropriate to
propose to the Meeting to acknowledge the above-
mentioned report.
3. To consider and approve the Balance Sheets and the
Statements of Income for the year-ended December
31, 2002 and the Auditors' Report.
Opinion of the Board of Directors : It is appropriate to
propose to the Meeting to approve the Audited Balance
Sheets and the Statements of Income for the year
ended December 31, 2002.
4. To consider and approve the appropriation of profit and the
distribution of dividend from the operating results of fiscal
year 2002.
Opinion of the Board of Directors : In 2002, the Company
reported a net profit of Baht 534 million.
Furthermore, the Company still had an accumulated
loss in retained earnings of Baht 7,820 million and in
accordance with the law and the Company's Articles of
Association, no dividend would be paid this year.
5. To elect new Directors and to consider Directors'
remuneration.
Opinion of the Board of Directors : It is appropriate to
propose to the Meeting to elect new Directors to
replace the three Directors those who retired upon the
expiration of their terms of office. The retired Directors
may be re-elected. The Name list of three Directors
who retired upon the expiration of their terms of office
is as follows :
1) Mr.Prasert Bunsumpun : Outside Director
2) Mr.Sayan Satangmongkol : Outside Director
3) Mr.Narong Boonyasaquan : Executive Director
Also, it is, herewith, appropriate to propose to the
Meeting to appoint two more Directors to fill the
vacancy. Consequently, the Board of Directors would
be composed of 11 directors.
As for Directors' remuneration, it is appropriate to
propose to the Meeting to approve Directors'
remuneration in accordance with such former
regulation under which the Cabinet set for the State-
Enterprise.
6. To consider the appointment and fix the remuneration for
the Auditor.
Opinion of the Board of Directors : It is appropriate to
propose to the Meeting to approve the appointment of
the Office of the Auditor General as the Company's
auditor for the fiscal year 2003 and the auditor's
remuneration of Baht 800,000 per year as equivalent in
the past.
7. To consider other business issues (if any).
For this, the Company has established the closing time of its
share register for the right to attend the General Shareholders' Meeting
from April 4, 2002 at 12.00 a.m. until the meeting ends.
Yours sincerely,
(Mr.Kiatchai Maitriwong)
Assistant Vice President,
Corporate Planning Office
Corporate Planning Office
Tel: 0-2335-4583