17 September 2007
Purchase shares of BEC-TERO Exhibitions
September 14, 2007
TO: President
Stock Exchange of Thailand
RE: Purchase shares of BEC-TERO EXHIBITIONS COMPANY LIMITED
BEC was informed by BEC - TERO Entertainment Public Company
Limited [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,
that BEC-TERO has acquired additional shares of BEC-TERO Exhibitions Co., Ltd.
[BEC-TERO Exhibition] from PICO (Thailand) Public Co., Ltd.[PICO] amount of
39% and Asia Congress Events Co., Ltd. [ACE] amount of 10% topping up
the existing 51% interest to 100% by using existing working capital. The
details are as follows:-
Transaction 1
1. Date of transaction: June 2007
2. Parties involved: Purchaser: BEC-TERO Entertainment Public
Company Limited
Sellers: Asia Congress Events Co., Ltd. -
the sellers didn't have any
relationship with the purchaser
in the manner that shall be
considered as connected persons.
3. Details of assets purchased: amount of 50,000 common shares, which was
10% of total share of BEC - TERO
Exhibitions, at the price Baht 0.69 per
share, the value of the transaction was Baht
34,500.
4. Characteristics of the transaction: The transaction was not a connected
transaction and the size of transaction is
about 0.0012% of BEC's net tangible
assets, according to the consolidated
financial statement as at March 31, 2007.
5. The basis used to determine the value of asset purchased: It is determined
based on the net asset value of BEC - TERO
Exhibitions as at March 31, 2007,
which was equivalent to Baht 1.53 per share,
under an arm's length negotiation between
both parties.
Transaction 2
1. Date of transaction: within September 2007
2. Parties involved: Purchaser: BEC-TERO Entertainment Public
Company Limited
Sellers: PICO (Thailand) Public Co., Ltd.
- 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: amount of 195,000 common shares, which is
39% of total share of BEC - TERO
Exhibitions, at the price Baht 0.66 per
share, the value of the transaction is Baht
128,700.
4. Characteristics of the transaction: The transaction is not a connected
transaction and the size of transaction is
about 0.002% 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: It is determined
based on the net asset value of BEC - TERO
Exhibitions as at June 30, 2007,which is
equivalent to Baht 0.66 per share, under an
arm's length negotiation between both
parties.
Please be informed accordingly.
Yours sincerely,
(Mr.Chatchai Thiamtong)
Vice President - Finance