19 December 2006
Dispose of Sony BMG Music Entertainment (Thailand) shares
December 19, 2006
TO: President
Stock Exchange of Thailand
RE: Dispose of Sony BMG Music Entertainment (Thailand) shares
BEC would like to inform that BEC-Tero Entertainment Plc.
[BEC-Tero] - our subsidiary which BEC holds 60% of the paid up
capital and the substantial portion of the rest is held by non -
connected parties, has sold and already transferred all of the
ordinary shares which BEC - Tero held in Sony BMG Music
Entertainment (Thailand) Co., Ltd. to Thailand Venture Inc. who was
not a related person. The sale is to dissolve us from an
un-interested investment. The amount of the shares was 300,000
shares (par Baht 100 per share), which is 20% of the total shares.
The value of the transaction was Baht 20.8 million of which the
selling price was Baht 69.34 per share - the book value from the
management report as at the October 2006 was Baht -56.58 per share,
the basis which is used to determine the value of assets is the
negotiation between the parties. The value of the transaction was
0.3% of the total assets of the company as the end of the 3rd
quarter of 2006.
Please be informed accordingly.
Yours sincerely,
(Mr.Chatchai Thiamtong)
Vice President - Finance