Sales of properties to TICON Property Fund (TFUND)

LT.F 156/2010

October 15, 2010

Subject Sales of properties to TICON Property Fund (TFUND)

Attention The President The Stock Exchange of Thailand

TICON Industrial Connection Public Company Limited ("the Company") would like to announce that, on October 14, 2010, the Company sold factory buildings to TICON Property Fund, details of which are as follows:

1. Transaction date	: October 14, 2010
2. Buyer	: TICON Property Fund
3. General characteristics of the transaction	Sale of assets with transaction value accounted for 14.90 percent of the Company's total assets as at June 30, 2010. (The Company is not required to inform the shareholders in writing, according to the SET's regulation.)
4. Details of assets	: 35 factories with usable area of 85,935 square meters, located on 127.62 rai of land.
5. Total value of the transaction	: Baht 1,707.25 million (payable in full on the transfer date)
6. Book value of the assets	: Baht 888.95 million (as at October 14, 2010)
7. Criteria to determine value of the transaction	The value of the transaction was determined by taking into consideration an expected required return of TFUND and an average appraisal value carried out by 2 independent appraisers in April 2010. (The average appraisal value was Baht 1,708.35 million.)
8. Benefits from assets disposition	: To convert assets into capital for business expansion
9. Plan to use the proceeds	: To fund factories and warehouses development
10. Approval of transaction	: Approved by the Board of Directors
11. Board of Directors' opinion	: The transaction will benefit the Company's business expansion.

 

Please be informed.

 

Yours faithfully,
(Miss Lalitphant Phiriyaphant)
Company Secretary

 

Finance Department
Telephone number : 02-679-6565
Facsimile number : 02-287-3153

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