Bangkok--11 Jan--L.P.N. Development
Reference information from the Krungthepturakij Newspaper dated January 11, 2007 stating that L.P.N. Development Public Co., Ltd. (LPN) is one of the company to be affected with the amendment of Foreign Business Act B.E. 2522 (1999) and having voting right over.
The Company would like to clarify that
1. LPN’s article of association prescribe that foreign shareholding in LPN shall not exceed 39% of the total outstanding share. Currently, the foreign shareholding in LPN is 37.5% which is not consider affected by the amendment of Foreign Business Act B.E. 2542 (1999)
2. From the information on the newspaper stated that LPN’s voting right is 51% this came from the assumption of exclude share of Thai NVDR Co., Ltd. in fact Thai NVDR Co., Ltd. is Thai juristic person, established by SET. Its voting right is the proportion of Thai. Therefore, LPN’s foreign voting right is 39% only.
LPN is not affected with the amendment of Foreign Business Act B.E. 2542 (1999) as stated from the said information. LPN will study further for the clarification of the amendment of Foreign Business Act B.E. 2542 (1999).