Bangkok--28 Aug--CIMB Thai Bank
Subhak Siwaraksa, CIMB Thai Bank President and CEO, announced today that the Bank’s Board of Directors, as authorized by the Annual General Meeting of Shareholders No. 21, at its meeting no. 8/2015 on 27 August 2015 passed a resolution approving the allocation of 3,689,853,654 newly issued shares at a par value of THB 0.50 per share to the existing shareholders in proportion to their shareholding at the ratio of 7 new shares for 40 existing shares held, at the offering price of THB 1 per share, together with the criteria for allocating such rights shares. The total amount to be raised would be THB 3,689,853,654.00 (in case of full subscription).
The Annual General Meeting of Shareholders No. 21 held on 10 April 2015 approved an increase of the Bank’s registered capital under general mandate by THB 3,162,731,703.50, from THB 10,542,439,012.50 to THB 13,705,170,716.00, via an issuance of 6,325,463,407 new ordinary shares with a par value of THB 0.50 per share for allotment under general mandate to the existing shareholders in proportion to their shareholding, and determining the terms of the allotment of such rights shares.
Any remaining shares after the rights offering shall be allocated to any shareholders who have indicated their intention to subscribe in excess of their rights pursuant to their entitlement. Any fraction of unallocated shares that arises as a result of the re-allotment will be cancelled.
The Bank has specified the record date for share subscription to be on 11 September 2015, the book closed for right offering on 14 September 2015, and the subscription period during 26-30 October 2015.
“This capital increase is carried out according to our plan and the AGM’s resolution in April 2015 so as to support our business expansion. CIMB Group intends to participate in the capital increase in proportion to its shareholding. This reflects the Group’s commitment to its investment in Thailand as its key market and core strategy toward its goal of being an ASEAN leading bank,” said Subhak.