Bangkok--18 Mar--i2C Communications
TTA’s Board resolved to pay dividends for the three-month period of October to December 2014 at THB 0.025 per share and issue debentures for up to THB 5 billion to manage financial leverage and optimise shareholder value for shareholders approval at the Annual General Meeting of Shareholders No 2/2015, which will be held on Monday, 27 April 2015, in response to the change of the company’s financial year end to December.
Mr. Chalermchai Mahagitsiri, President and Chief Executive Officer of Thoresen Thai Agencies Public Company Limited, or TTA, revealed the resolution of TTA’s Board to pay dividends for the three-month period of 1 October 2014 to 31 December 2014 to shareholders whose names appear on the company’s shareholders register book on 7 May 2015, resulting in closing the shareholders register book on 8 May 2015. Dividends will be paid on 22 May 2015 at THB 0.025 per share.
TTA’s Board also resolved to propose the shareholders to consider and approve its plan to issue and offer debentures worth up to THB 5 billion, in one full amount or in separate offerings, for debt repayment and/or other purposes. The Board will be authorised to determine details of the debentures issuance plan as deemed appropriate.
“This is a move to secure early approval of the limit of debenture issuance. According to the plan, debentures can be issued from time to time, until the approved limit is reached. This will facilitate TTA’s financial leverage management, especially in connection with the upcoming redemption in July of the existing debentures worth THB 2 billion. We believe that the proposed issue will enable us to implement our business expansion plan effectively,” he said.
Due to improved performances in all business segments, TTA has been assigned last November the company rating of BBB+. This will enable TTA to issue debentures and have greater access to a range of finance options with more favourable interest rate, through access to a wider set of investor groups.
The matters concerning dividend payment and issuance of debentures have been included on the agenda of the Annual General Meeting of Shareholders No 2/2015, which will be held on Monday, 27 April 2015 (1.30pm) at Athenee Crystal Hall, 3rd Floor Hotel Plaza Athenee Bangkok.