Bangkok--Nov 24--Minor International
MINT’s Board of Directors approved its plan to issue 183m shares through a rights offering of 15:1 (new:old) share at Bt5.85 per share. The new share will receive a free warrant.
This movement is not a new news, MINT decided to cancel its private placement of preferred share as a rights offering rewards existing shareholders by providing an opportunity to further benefit from the growth of MINT’s expanding food and hotel businesses.
Proceeds from rights offering is estimated at Bt1bn
Together with Bt 920m of bank loans, MINT will use total proceeds of nearly Bt 2bn to finance the construction of its hotel projects in Samui and in Maldives. In addition, a further expansion of its fast food restaurant in China.
Returns on investment are estimated above 18% and revenue generation to commence by 1H06.
An EGM for rights offering approval is scheduled on 6 January 2006 and the subscription period is set on 19-27 January 2006. Note that the warrants issue was already approved by AGM on 21 April 2005 and pending for the SEC approval.
Please find attached for the Company’s submission to the SET and the Press Release for details. If you have further question, please do not hesitate to call Investor Relations — Khun Prapharat Tangkawattana, Senior Finance Director at +662 725 6043 ([email protected]) or Khun Suwanna Chalermwat at + 662 725 6048
Suwanna Chalermwat (JEAB)
Investor Relations
Minor International PCL
9/F, White Group Tower II
75 Soi Rubia, Sukhumvit 42 Road
Bangkok 10110 Thailand
Tel: 66(0) 2725 6048
Fax: 66(0 2725 6199
Mobile: 66(0) 1858 3878
E-mail: [email protected]
Website: www.minornet.com End.