Bangkok--11 Jun--Minor International
Minor International (MINT) is pleased to announce that its Board of Directors has resolved to pay an interim cash dividend equal to Baht 0.08 per share. The approval was made after the successful implementation of the Group Business Restructuring Plan. This interim dividend was based on MINT’s retained earnings as of 31 December 2008. All MINT’s shareholders whose names appear in the Company’s share register book on 26 June 2009 are entitled to receive this interim dividend which will be paid on 9 July 2009.
According to our latest development of business restructuring plan, MINT has pursued the tender offer process, the issuance of the Company’s new securities in exchange for the securities of Minor Corporation Public Company (“MINOR”) to its shareholders. We expected the majority of MINOR’s shareholders to accept the tender offer. Given MINT’s interim dividend book closing date on 26 June 2009, MINOR’s shareholders who successfully swap to MINT shares are fully entitled for the interim dividend payment of Bt 0.08 per share which will be paid on 9 July 2009.
William E. Heinecke, Chairman and CEO of Minor International, commented: “Due to MINT’s solid financial position and outstanding operational performance over time, MINT possesses financial resources far more sufficient to grow both its hotel and food businesses going forward even after the aforementioned interim dividend payment. Moreover, evidencing from the robust financial position and performance, MINT has received supports from major financial institutions in Thailand to be part of the exciting growth business story”.
Pratana Mongkolkul, CFO of Minor International added: “This interim cash dividend of Bt 0.08 per share together with the previous interim dividend of Bt 0.23 per share, is significantly more than the cash dividends MINT had paid in each of the past two years. Despite the interim dividend, MINT’s financial position remains strong with an interest-bearing debt to equity ratio of only 0.75x as end of March 2009. .
About Minor International
Minor International (MINT) is Thailand’s largest food service operator with over 1,000 outlets system wide under The Pizza Company, Swensen’s, Sizzler, Dairy Queen, Burger King, Thai Express and the Coffee Club brands. MINT is also a hotel owner, operator and investor with a portfolio of 27 hotels under the Anantara, Marriott, Four Seasons, Elewana and Minor International brands in Thailand, the Maldives, Vietnam, Africa, the Middle East and Indonesia. In January 2009, MINT was recognized by Asia Money magazine as Thailand’s Best Managed Medium Cap Company for financial and business performance, management strategy and vision, and shareholder value creation. The Company’s operations for its owned and managed properties and franchised food outlets currently cover 16 countries with over 20,000 employees worldwide. For more information, please visit www.minorinternational.com
Press Contacts: Pratana Mongkolkul / Prapharat Tangkawattana at Tel: (662) 381-5151