LT.F 184/2006
April 12,2006
Subject Assets disposition to TICON Property Fund (TFUND)
Attention The President
The Stock Exchange of Thailand
TICON Industrial Connection Public Company Limited would like to announce that,
on April 11, 2006, the Company sold land and factory buildings to TICON Property
Fund, details of which are as follows:
1.Transaction date :April 11, 2006
2.Buyer :TICON Property Fund
3.General characteristics of transaction : Type II, (according to the
Notification of the Stock Exchange of Thailand Re: Disclosure of
Information and Others Acts of Listed Companies Concerning the acquisition
and Disposition of Assets) of which transaction value is higher than 15
percent and lower than 50 percent of the Company's total assets.
4.Details of assets :44 factory units located on 7 locations as follows;
1. 9 units located on Bangpa-In Industrial Estate,
Ayudhaya
2. 10 units located on Amata Nakorn Industrial Estate,
Chonburi
3. 5 units located on Hi -Tech Industrial Estate,
Ayudhaya
4. 8 unit located on Amata City Industrial Estate,
Rayong
5. 8 units located on Rojana Industrial Park,
Ayudhaya
6. 3 units located on Bangpoo Industrial Estate,
Samutprakarn
7. 1 unit located on Pinthong Industrial Estate,
Chonburi
The said factories are freehold, located on 146.1824
rai of land with a building area of 100,407 square
meters in total.
5.Total value of transaction :Baht 1,982 million (payable in full on the
transfer date)
6.Value of assets :Baht 940.85 million (Book value as at March 31, 2006)
7.Criteria to determine the value of transaction : The value of
transaction determined by 4.3 percent discounted from average appraisal
value of Baht 2,070.65 million (The assets were appraised by 2 independent
appraisers with the value of Baht 2,078.8 and 2,062.5 million.), derived by
income approach method
8. Benefits from assets disposition : Another fund raising channel for
standard factories development
9.Plan to use the proceeds :To develop standard factories
10.Approval of transaction : Approved by the Board of Directors
11. Board of Directors' opinion: The transaction will benefit the Company's
expansion in long term.
Please be informed.
Yours faithfully,
(Miss Lalitphant Phiriyaphant)
Company Secretary