LT.F 122 / 2006
March 7, 2006.
Subject: Conversion of Preferred Shares
To: The President
The Stock Exchange of Thailand
Following the issuance of 50 million TICON convertible
preferred shares to the Thailand Equity Fund ("TEF") in
February 2004,the Company has been informed by TEF
that they would like to convert all of the preferred shares
into ordinary shares, at a ratio of 1 ordinary share for
1 preferred share and a price of 0 Baht per share.
The company would like to announce that such conversion
will not lead to control or earnings dilutions, as
the convertible preferred shares convey the same rights as
ordinary shares, with additional rights in the event of liquidation.
This conversion will result in there being only one type of
TICON shares -ordinary shares- and will increase the market
capitalization of TICON.
The Company is in the process of registration of
the converted ordinary shares with the Ministry of Commerce and
applying for such shares to be listed securities
on the Stock Exchange of Thailand.
Please be informed
Yours faithfully
(Miss.Lalitphant Phiriyaphant)
Company Secretary