Bangkok--30 Nov--Ogilvy Public Relations
- Offering of 650 million newly issued ordinary shares in PTTEP
- Entitlement ratio of 1 existing ordinary shareto 0.195783newly issued ordinary shares
- Subscription period will run from December 3, 2012 until noon on December 6, 2012during business hours of each of the Selling Agents’ branches
PTT Exploration and Production Public Company Limited(PTTEP) today (November 30, 2012) announced the final offering price of its newly issued ordinary shares of THB 142per share, which wasdetermined via a bookbuildingprocess. A total of 650 millionnewlyissued ordinary shares will be issued and allocated on a preferential public offering basis to Eligible Shareholders. The entitlement ratio is 1 existing ordinary share to 0.195783newly issued ordinary shares.
Eligible Shareholders can calculate the number of newly issued ordinary shares they are entitled to by multiplying (i) the number of shares they held as of the November 12, 2012 (Record Date) as specified in PTTEP’s letter confirming shareholding status sent to shareholders on November 16, 2012 with (ii) the entitlement ratio of 0.195783. Any entitlement to a fraction of a share from the calculation will be rounded down to the nearest whole share.An example of entitlement shares calculation is shown below.
Eligible Shareholders can subscribe for PTTEP’s newly issued ordinary shares at the Selling Agents, which include Bangkok Bank (BBL) (except micro branches), Krung Thai Bank (KTB), KBANK and Siam Commercial Bank (SCB) head offices and nationwide branches. Subscription will begin on December 3, 2012 until noon of December 6, 2012 (on December 5, 2012, shareholders can subscribe at Selling Agents’ branches that are open for business) during business hours of each of the Selling Agents’ branches.
Allocation results will be announced from December 7, 2012 onwards. Subscribing shareholders will be able to check their share allocation results at www.settrade.com, PTTEP’s website (www.pttep.com) or at the head offices, branches nationwide or websites of the Selling Agents. Subscribers will be refunded for any unallocated shares within 14 days from the last date of subscription.
Mr. Tevin Vongvanich, President and Chief Executive Officer of PTTEP, said “The final offering price reflects current market demand for PTTEP’s newly issued ordinary shares. We have received positive responses from our management roadshow in which we met with investors in Thailand, Singapore, Hong Kong, and the USA. Moreover, to ensure transparency, PTT did not participate in the bookbuilding process which determined the final offering price, but has pledged its full support for the capital increase and has also committed to fully subscribe for its entitlement to maintain its shareholding. With an expected gross proceeds to be raised from this offering of THB 92,300 million (or approximately USD 3 billon), this transaction will be the largest public offering from Thailand to date. The equity raising will enable PTTEP to strengthenits capital structure and allow the Company to achieve its growth plans.We invite alleligible shareholders to subscribe to the offering during the announced subscription period, to be a part of PTTEP’s successes and to help ensure Thailand’s energy security.”
Example of entitlement shares calculation
(1) Number of shares held as of November 12, 2012 (Record Date) = 1,000 shares
(2) The entitlement ratio of the existing ordinary shares to the newly issue ordinary shares = 1 existing share for 0.195783 newly issue ordinary shares
The number of shares from calculation is equal to 1,000 x 0.195783 = 195.783 shares
By rounding down the fraction of a share, the number of entitled newly issued shares is 195shares