Bangkok--24 Aug--PTTEP
Mr. Tevin Vongvanich (นายเทวินทร์ วงศ์วานิช), the President and CEO of PTT Exploration and Production Public Company Limited or PTTEP, announced the cancellation of the Extraordinary Shareholder meetings on August 24 at the Bangkok Convention Center.
He explained that PTTEP has received feedbacks from some shareholders that additional time is required to study details in order to consider voting on the capital increase matters. For the benefits of PTTEP and shareholders as a whole, the Board of Directors Meeting No. 12/2012/355 held on August 23, 2012 has thus passed a resolution to cancel the Extraordinary Meeting of Shareholders No.1/2012. However, PTTEP still maintains its capital increase plan. It will prescribe the new date of the shareholders’ meeting and will inform later.
The cancellation of the meeting does not affect the business operations of PTTEP and does not affect shareholders’ right to receive an interim dividend of 2.80 baht from consolidated performance of PTTEP and its Subsidiaries for the first half year operations of 2012 which was paid on August 22, 2012. He said the company has a strong financial plan, and fund for Cove Energy acquisition has already concluded. However, PTTEP may have to consider the future major investment, along with the capital fund increase, he added.