Bangkok--18 Apr--SCB
With reference to the public auction for the shares of SICCO of 230,883,188 shares or 38.65% of issued shares held by the Siam Commercial Bank Public Company Limited “the Bank” which the period of non binding bid submission of the aforementioned public auction has expired on 12 April 2011, the Bank would like to notify that there are interested investors who have expressed their interests to participate in the auction for SICCO’s shares but they are unable to submit the Non-Binding Bid to the Bank within the specified deadline and thus requested that the Bank considers extending the deadline. The Bank has then considered and agreed to extend the deadline to submit the Non-Binding Bid to 6 May 2011, 5:00PM (Thailand Time) so as to increase the chances for investors to submit their Non-Binding Bid to the Bank for further consideration. After the expiration of the extension period, the Bank will hold a first round selection for qualified investors who have submitted the non-biding bid to exercise due diligence of SICCO prior to a binding bid submission. The Bank expects the transaction to be concluded within the next 3-4 months after the extension period.
The Bank has notified all relevant authorities in writing of the extension and wishes the auction will be finished successfully.