Bangkok--Jan 10--True
True Corporation PLC announced today that its subsidiary, K.I.N (Thailand) Limited, would offer 26.50 Baht per share for the remaining publicly held shares in pay television leader, United Broadcast Corporation (UBC).
The offer for the remaining 205,055,929 shares will open on 12 January and close at 4.30pm on 16 March 2006 inclusive. The tender offer period will cover 45 business days (8.30 a.m. to 4.30 p.m. daily), during which time shareholders may submit a Tender Offer Acceptance form to sell their shares and receive payment within three working days of submission. The tender offer period will not be extended.
The tender offer follows approval on 13 December 2005, by True and UBC shareholders for the acquisition and delisting of UBC. Since then, True Group has purchased MIH’s shareholding in and gained approval from the Stock Exchange of Thailand for the delisting of UBC.
The purchase of UBC will enable True to become a “triple player” with market leadership in voice, data, and video, and will be a significant step forward in the company’s vision to become a fully-integrated communications solutions provider and leading lifestyle enabler.
Details of the tender offer for the publicly held shares will be advertised in leading Thai newspapers from 10 January 2006. UBC shareholders who wish to sell their shares may obtain a Tender Offer Acceptance form from:
Equity and Debt Operation Division,
Phatra Securities Public Company Limited
6th Fl., Muang Thai-Phatra Office Tower 1
252/6 Ratchadaphisek Rd. Huaykwang, Bangkok, Thailand 10310
Shareholders seeking more information on the offer should contact:
Mr Jareug Kumpeerakit, Ms Orachorn Chanapokakul, or Ms Rungrat Sriniratsai
Tel: +66 2305 9000 extension 9379, 9390, and 9345 Fax +66 2275 2282
About UBC
United Broadcasting Corporation (UBC) was created by the 1998 merger of International Broadcasting Corporation Public Company Limited (IBC) and UTV Cable Network Public Company Limited (UTV). The combined strengths of these leading Thai pay TV operators created a dynamic platform from which it is able to provide an array of services to subscribers including 42 cable channels, free-to-air television and educational TV. For more information please visit: www.ubctv.com
About True
True Group is Thailand’s leading fixed line operator with over two million subscribers, the market leader in broadband services with nearly 300,000 subscribers and the third largest mobile phone operator in Thailand, with over four million subscribers. It recently launched a new web portal www.trueworld.net with music, sports, games, and e-books as part of its vision to provide a full range of lifestyle and entertainment options to customers including the upcoming broadband TV. For more information please visit: www.truecorp.co.th
For more media inquiries only, please contact (003 ) 09/01/2549 :
PR Department, True
Saovanee, Sisadhi, Pimolpan: 02-699-2777, 02-643-2463, 02-699-2772 End.