31 August 2007
Purchase shares of ThaiAudioText Service Co., Ltd.
August 31, 2007
TO: President
Stock Exchange of Thailand
RE: Purchase shares of ThaiAudioText Service Co., Ltd.
BEC would like to inform that the Board of Directors of
BECi Corporation Co.,Ltd. [BECi] has passed the resolution to acquire
additional shares of ThaiAudioText Service Co.,Ltd. topping up the
existing 49.99% interest to 89.99%. The details are as follows:-
1. Date of transaction: August 31, 2007
2. Parties involved: Purchaser: BECi Corporation Co., Ltd.
- a subsidiary which BEC
holds 100% of the paid up capital
Sellers: 1. Intecom SA sells 1,199,400
shares (39.98%)
2. Mr.Mohammed Ordi sells 300
shares (0.01%)
3. Mr.Jamal Ordi sells 300 shares
(0.01%)
All of the sellers don't have any
relationship with the purchaser
in the manner that shall be considered as
connected persons.
3. Details of assets purchased: 1,200,000 common shares of ThaiAudioText
Service Co., Ltd.at the price Baht 7.50
per share, the value of the transaction is
Baht 9,000,000.
4. Characteristics of the transaction: The transaction is not a connected
transaction and the size of transaction is
about 0.14% of BEC's net tangible assets,
according to the consolidated financial
statement as at June 30, 2007.
5. The basis used to determine the value of asset purchased: base on the net
asset value of TAS as at June 30, 2007, which
is equivalent to Baht 7.4997 per share.
6. Source of fund: Existing working capital
7. Other information: TAS operates the audiotext service, which
has register capital Baht 30 million with
3,000,000 common share at par value Baht 10.-
Please be informed accordingly.
Yours sincerely,
(Mr.Chatchai Thiamtong)
Vice President - Finance