24 Jul 2014 18:09:00
Progress of the construction of uncompleted project
Jortor. 11-570314 July 24, 2014 To: The President The Stock Exchange of Thailand Re: Progress of the construction of uncompleted project As TRUE Telecommunications Growth Infrastructure Fund ("the Fund") has invested in the uncompleted telecommunications infrastructure assets on December 25, 2013, SCB Asset Management Co., Ltd. ("the Company''), the Management Company of TRUE Telecommunications Growth Infrastructure Fund, would like to inform the progress of the uncompleted project pursuant to the letter of the Office of the Securities and Exchange Commission No. Thor Nor. 1/2554 with details as follows: Under the Asset and Revenue Sale and Transfer Agreements between True Corporation Public Co., Ltd. ("True") and the Fund dated December 24, 2013, True will be obligated to deliver or procure the delivery of the new towers of 3,000 towers due for delivery by December 31, 2014 ("First Batch") and the remaining 3,000 towers due for delivery by December 31, 2015 ("Second Batch") (both related to as "Additional Telecommunications Towers"). At the end of June 2014, the Actual Progress of the Construction of the Additional Telecommunications Towers compared to the Plan and the Delivery of the Additional Telecommunications Towers are summarized as follows: Table 1 Summary of the Actual Progress of the Construction of the Additional Telecommunications Towers (Number of sites) compared to the Plan at the end of June 2014 Key Milestones Plan end of June 2014 Actual Progress end of June 2014 Site Option Approved Technical Site Survey Negotiation, Site Rental Approval Site Lease Contract Signed Submission of request for the Approval and License from the Government Agency Start of the Construction Inspection and Delivery of the towers to the Fund 2,520 2,400 2,280 1,710 1,410 510 - 2,807 2,477 2,312 1,718 1,419 503 52 Table 2 Report on the Delivery of the First Batch of Towers to the Fund for the period of June - December 2014 Month June July August September October November December Monthly Plan of the First Batch Delivery (Year 2014) Delivery Amount - 68 540 600 750 600 390 Total Accumulated Amount - 120 660 1,260 2,010 2,610 3,000 Monthly Actual Delivery Amount (Year 2014) Actual Delivery Amount 52 Total Accumulated Amount 52 From the reports above, the construction progress of the Additional Telecommunications Towers is in accordance with the Plan and there have been no event indicating that the delivery of the Additional Telecommunications Towers will not be on the schedule. Please be informed accordingly. Yours faithfully, TRUE Telecommunications Growth Infrastructure Fund By SCB Asset Management Company Limited (Mr. Sarnthor Mudhasakul) Vice President, Property and Infrastructure Fund Group ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.