SET Announcements

BEC World Plc (BEC) notified board resolutions made at the 5/1997 meeting held on Jul 8, 1997 as follows: 1.To approve the minutes made by board meeting No. 4/1997 2.To purchase ordinary shares amounting to 7.2 m units or 20% of registered capital of CVD Entertainment Plc at the price of Bt45 apiece, totalling to Bt324 m, details as follows: 2.1 purchase 1.2 m existing shares at the price of Bt45 each, totalling to Bt54 m 2.2 purchase 6 m capital increased shares, Bt45 apiece, totalling to Bt270 m This investment claimed over 10% of another's registered capital so the disclosure of transaction is shown below: Information of investment of BEC World Plc 1.Date of transaction : July 8, 1997 (purchase of 7.2 m units, Bt45 each, of CVD at closed price averaged for 40 working days since May 2 - Jun 30, 1997) 2.Relation with listed company : - 3.Feature of acquisition : to aquire assets of CVD with transaction size stood at 4.4% complying to the SET's regulation concerning criteria, procedure and disclosure of acquisition/disposition of listed company's asset 4.Details of asset bought : type of securities--ordinary shares of CVD Entertainment Plc, listed company in the SET, comprised of 6 m capital increased shares and 1.2 m existing shares, totalling to 7.2 m units company--CVD Entertainment Plc Type of business--producer and distributor of VDO tape recording; V-Cassette and V-O Cassette and recorder of film on VDO cassette Paid-up registered capital--Bt300 m, Bt10 apiece Board of directors-- 1.Mr Lersak Thavornvanich The president 2.Mr Suwat Palakul MD 3.Miss Narudi Chiramongkol Executive director 4.Mr Phadej Hongfa Executive director 5.Mr Suang Wongsupakphan Director 6.Mr Chan P Tek Peter Director 7.Mrs Sudjit Thivari Director 8.Mr Praphan Siriratdhamrong Independent Director 9.Lt Gen Pichit Mipreecha Independent Director Major shareholders and ownership on Apr 22, 1997-- Name No of shares % holding 1.Cineads VDO Co Ltd 1,568,850 5.23 2.ING Baring Nominees (Singapore)Pte Ltd 1,550,000 5.17 3.Mr Poravit Wongsupakphan 1,430,769 4.77 4.Mr Niti Thavornvanich 1,419,726 4.73 5.HSBC Nominees (Singapore)Pte Ltd 1,156,550 3.86 6.Mr Phadej Hongfa 1,150,372 3.83 7.Mr Sirisak Wongsupakphan 1,081,729 3.61 8.Krung Thai Bank Plc 974,300 3.25 9.Cineads Siam Co Ltd 869,400 2.90 10.Mr Niradara Thavornvanich 842,162 2.81 11.Mr Vorasithi Wongsupakphan 829,396 2.76 12.Mr Suang Wongsupakphan 795,681 2.65 13.Mr Lersak Thavornvanich 755,181 2.52 Total 14,424,116 48.09 5.Total remunerations : Bt324 m, paid in cash 6.Source of fund : working capital 7.Objective of investment : to modify company's entertainment business to VDO Cassette sector, agen distributor of local and oversea film recorded in VDO, which is recently mushrooming 8.Anticipated benefit : business expanded and dividend from CVD