Bangkok--11 Feb--Sahaviriya Steel Industries
25 January 2011, at Ballroom, Narai Hotel, Bangkok, Dr. Maruey Phadoongsidhi, Chairman Of The Board Of Directors, Sahaviriya Steel Industries Plc. (SSI), hold the Company’s Extraordinary General Meeting No. 1/2011, with the attendance of SSI’s Board of Directors, Management and shareholders. The shareholders have approved the capital increase plan through issuance of new shares not exceeding 5,240 million new ordinary shares, the placement method. The expected proceeds of THB 6,000 million will be used to strengthen the company’s capital structure and finance the purchase of the Teesside Cast Products (“the Assets”), which the company has entered into the Memorandum of Understanding (MOU) with Tata Steel UK limited (formerly Corus UK Limited) on 27 August 2010.