Ref: LT.F 222/2006
June 15, 2006
Subject Disposition of investment in a Subsidiary (Additional)
Attention The President
The Stock Exchange of Thailand
According to the announcement of TICON Industrial Connection Public
Company Limited ("the Company") regarding the disposition of investment
in TICON Logistics Park Company Limited ("TLP"), previously a 94.99
percent owned subsidiary, to Pasusin Company Limited, the Company would
like to inform the additional details of the said disposition as follows:
1.Transaction date: June 9, 2006
Relevant parties
Buyer: Pasusin Company Limited
Seller: TICON Industrial Connection Public Company Limited
2.Details of asset sold
Type of asset: Common shares of TICON Logistics Park
Company Limited
TICON Logistics Park Company Limited's information
Type of business: Developing logistics warehouses for rent/sale
Registered capital: Baht 1,000,000,000
Paid-up capital: Baht 750,000,000
Par value: Baht 10 per share
Paid-up value: Baht 7.50 per share
Number of shares sold:5,000,000 shares (5 percent of registered
capital)
Board of Directors: 1.Mr. Jirapongs Vinichbutr
2.Mr. Wei Cheng Kuan
3.Mr. Virapan Pulges
4.Mr. Manop Charoenkajonkul
3.Total value of transaction: Baht 38,131,849, comprising Baht 37,500,000
for the stock (5,000,000 shares, at a price
of Baht 7.50 per share) and a premium of
Baht 631,849. The total purchased amount
was settled on the transaction date. This
transaction is considered as a medium-size
connected transaction relating to assets or
services.
4.Name of connected person: Mr. Manop Charoenkajonkul as a director of TLP
(subsidiary of the seller) and the director of the buyer.
5.Opinion of the Board of Directors: The Board of Directors' Meeting No.
3/2006 held on May 10, 2006 approved the Company to sell 5 percent stake
in TLP to Mr. Manop Charoenkajonkul or a company majority owned by him.
Mr. Manop did not participate in the said Meeting because he is not a
director of TICON.
Please be informed accordingly.
Yours faithfully,
(Miss Lalitphant Phiriyaphant)
Company Secretary