No. ING.1540/2005 December 9, 2005
President
The Stock Exchange of Thailand
Dear Sir,
RE: Notification of the Closing of Register Book for Determining the
Right of Unitholders to Attend Unitholders' Meeting for Considering
the Capital Increase of TICON Property Fund (TFUND)
ING Funds (Thailand) Co., Ltd., ("ING") the management company
of TICON Property Fund (TFUND) (the "FUND") would like to inform that,
for carrying out the objectives for the establishment of the Fund to mobilize
funds to purchase or lease out real properties and procure benefits therefrom
to generate income and returns for the Fund and the unitholders, ING deems
it is appropriate to consider investing in additional assets in the type of
industrial factories and/or other type of assets which were specified in the
fund scheme of the FUND. In this regard, ING needs to obtain the
unitholders' approval for the increase the capital of the FUND. ING expects
to invest in additional standard industrial factories with the total value of
not exceeding Baht 2,200,000,000 and to issue the additional investment units
in the number of not exceeding 220,000,000 units at the value of Baht 10 per
unit. ING plans for the capital increase by offering new investment units in
the number of not exceeding 88,000,000 units to the existing unitholders
whose names appeared in the unitholders register book ("Right Offering")
and offering the remaining additional investment units under a private
placement basis ("Private Placement") to investors who are institutional
investors or specific investors and are unrelated to the owner of the assets
and are not connected person under the relevant notification of the Board of
Governors of the Stock Exchange of Thailand. Should there be the additional
investment units remaining from the Right Offering portion, ING will allot
them to the institutional investors or specific investors who have subscribe
the investment units.
In this regard, ING deems it is appropriate to call a unitholders
meeting No.1/2006 on January 9, 2006 at 10.00 a.m. at Grand Hall, The
Bangkok Club, 28th Floor, Sathorn City Tower, South Sathorn Road,
Khwaeng Toongmahamek, Khet Sathorn, Bangkok, to consider the following
agendas:
Agenda 1. To consider the increase of the capital the Fund for an
additional of Baht 2,200,000,000 by issuing and
offering of not exceeding 220,000,000 new investment
units with the value of Baht 10 each and to consider
the investment in additional real properties
Agenda 2. To consider the allotment of 220,000,000 new
investment units and the listing of the new investment
units on the Stock Exchange of Thailand;
Agenda 3. To consider the amendment of the fund scheme of
TICON Property Fund;
Agenda 4. Others (if any).
ING will arrange to send the invitation letter together with relevant
attachment to the unitholders and the Stock Exchange of Thailand 7
days prior to the date of meeting.
ING hereby notifies the date of the closing of the unitholders
register book to suspend the transfer of investment units for
determining the right of unitholders to attend the unit holders
meeting on December 26,
2005 at 12.00 noon onward until the meeting is adjourned.
Please be informed accordingly.
Yours faithfully,
(Mr. Maris Tarab)
Managing Director