Bangkok--17 Apr--SET
Mr. Suthichai Chitvanich, Executive Vice President (EVP) of the Stock Exchange of Thailand (SET), announced that the SET would transfer the securities of Thai Nam Plastic Public Company Limited (TNPC) from the REHABCO sector to Automotive sector (former sector : Petrochemicals & Chemicals) ( Industrials Group) on April 27, 2006 onwards. TNPC is the fifth firm whose securities are returned to its regular sectors this year, following Thai Wire Products Public Company Limited
(TWP).
Mr. Suthichai said that " TNPC requested the approval to transfer its secturities to regular sector. The company has
been earning net operating profit from its core business in the year 2005 amounting Baht 80 million and showed a positive shareholder's equity as at 31 December 2005 of Baht 131 million. The company is in process to pay debt following the revised rehabilitation plan which was approved by TNPC's shareholder meeting on January 17, 2006.
TNPC also has liquidity and been able to settle the payment on time. In addition, TNPC has show the continued positive cash flow from operation which was Baht 73 million as of 31 December 2005.
TNPC manufactures and sells Plastic product and PVC and Non - PVC leather for Automotive Interior Parts.
The company sells to domestic customers approximately 88% of total sale and the rest sells to foreign customers.
TNPC's management has an experience in this business exceeding 30 years and the said management is the company's strategic shareholders totaling 17% of paid up capital.
Mr.Suthichai added that " TNPC's securities resumes trading under REHABCO continuously, TNPC expresses its
desire to strategic shareholders are controlling shareholders, directors, executive management, including their related or
associated persons and also shareholders who hold shares of above 5% including related persons amounting 1,135,436
shares at par value 5 Baht each or 5.36% of paid up capital which mostly consist of Mangkornkarn family have confirmed
the SET that they will not sell their securities for at least one year from the day that TNPC resumes trading.
The SET prohibits them from selling more than 25% of their shares during the first six months after trading resumes, while
over the next six months, they may sell up to an addtional 25%, therefore, they can sell 283,859 shares for each period of six months."
The SET posts a "C" (Compliance) sign on TNPC's securities trading in the REHABCO starting from June 1,2005. TNPC fulfilled the SET's criteria for exclusion from being delisted, therefore, the SET considered to transfer its securities to
Automotive sector and lifted a "C" sign from its securities on April 27, 2006 onwards.
Moreover, investors should closely consider TNPC's information as well as its information memorandum before making their decisions to purchase TNPC's securities. All details have been disseminated on the SET Market Analysis and Reporting Tool (SETSMART).