SET Announcements
The Result of Securities Swap of BCP's shareholder
1600/016/2547
January 28, 2004
Subject : The result of Securities Swap of BCP's shareholders
Attention : President of The Stock Exchange of Thailand
Regarding the Bangchak Petroleum Public Company Limited ("BCP")
shareholders' right to swap existing shares of BCP to the depository receipts
of benefits in ordinary shares of BCP ("DR") within the Securities Swap Period
January 20 - 22, 2004 at 9.00 a.m. - 4.00 p.m.
The Company would like to inform that the volumes of BCP's ordinary
shares that shareholders intend to swap to DRs at specific swap ratios are
478,674,814 shares, however, the volumes of BCP's ordinary shares that
shareholders do not intend to swap to DRs are 43,366,126 shares, which will
be traded on SET as usual.
Therefore, 478,674,814 ordinary shares of BCP will be swapped to
289,056,955 DRs. In addition, there are 189,617,859 ordinary shares remaining
from such securities swap process, that the Company will propose the
shareholders' meeting to approve the cancellation of such remaining shares later.
The details of the securities swap are as follows;
1. Major shareholders, which consists of Ministry of Finance and PTT Plc.,
hold totaling 354,375,940 shares of BCP's ordinary shares (67.88% of
total shares), already swap their all shares to DRs at the swap ratio
of 10 ordinary shares to 5 DRs. Therefore, there are 177,187,970 DRs
issued to those major shareholders.
2. Minority shareholders who hold totaling 124,298,874 shares of BCP's
ordinary shares (23.81% of total shares or 74.14% of minority shares)
already swap their shares to DRs at the swap ratio of 10 ordinary shares
to 9 DRs. Therefore, there are 111,868,985 DRs issued to those minority
shareholders, and 43,366,126 ordinary shares that did not intend
to do the securities swap.
Please be informed accordingly.
Sincerely yours,
(Watcharapong Saisuk)
Assistant Vice President Corporate Planning Office
Corporate Planning Office
Tel : 0-2335-4583