News Detail

Date/Time
15 Aug 2016 09:39:00
Headline
Interim payment and Issuance of Warrants and Calling for Extraordinary General Meeting No.1/2016
Symbol
IHL
Source
IHL
Full Detailed News
Download Full Detailed News
                The Board of Directors' Meeting No. 5/2016 of Interhides Public Company Limited 
(the "Company") held on August 11, 2016 respectively has passed the following
resolutions:
 
1.Propose to the Extraordinary shareholders meeting to approve for interim 
dividend payment from the net profit of the Company, by pay stock dividend at
the ratio of 6 (six) existing shares to 1 (one) Stock dividend with the par
value of Baht 1 per share or representing dividend payment at Baht 0.1667 per
share. In case that any shareholders hold the indivisible share remaining less
than 1 share after such allocation, the dividend shall be paid by cash instead
of stock dividend at the rate of Baht 0.1667 per share.

The Interim dividend payment was paid from dividend received from Interseat 
Cover Company Limited, which is not subjected to corporate income tax wherein
individual shareholders shall not be entitled to a Dividend Tax Credit under
Section 47 bis of the Revenue Code.

2.Propose to the Extraordinary shareholders' meeting to approve the issuance and
allocation of the warrants to purchase the newly issued ordinary share of the
Company as the following details:

The issuance and allocation of the warrants to purchase the newly issued 
ordinary shares of Interhides Public Company Limited in the number of up to
104,999,695 units, to be allocated to the existing shareholders of the Company
pro rata to their respective shareholdings (Right Offering), at no cost, at the
allocation ratio of every 4 existing shares for 1 unit of warrants. In
calculating the entitlement to receive the warrants of each shareholder, any
fractions resulting from the calculation based on the allocation ratio set forth
shall be rounded down. The term of warrants will be 3 years from the issuance
date and the exercise price will be at Baht 3.50 per share, with exercise date
every six month.
In this regards, the right to receive such cause is uncertain as it has not been
 approved by Extraordinary General meeting of Shareholders No. 1/2016.

3.Propose to the Extraordinary shareholders' meeting to approve the reduction of
registered capital of the Company from Baht 419,999,076 to Baht 419,999,782, by
 cancelling authorized but unissued share.

4.Propose to the Extraordinary shareholders' meeting to approve the increase of 
registered capital of the Company from Baht 419,998,782 to Baht 594,998,274, by
issuing 174,999,492 shares, to reserve for stock dividend payment and warrants.

5.Approved the convening of the Extraordinary General Meeting of Shareholders 
No. 1/2016 on September 1, 2016 at 2 p.m at Boardroom 2, Queen Sirikit National
Convention Center (QSNCC), 60 New Ratchadapisek Road, Klongtoey, Bangkok 10110
with the following agenda:

  Agenda 1    To consider and adopt the Minutes of the Annual General Meeting of 
Shareholders No. 11 held on April 25, 2016.

  Agenda 2    To consider and approve profit allocation of the operating and 
dividend payment to shareholders

  Agenda 3    To consider and approve the issuance and allocation of the warrants 
to purchase the newly issued ordinary shares of the Company to the existing
shareholders of the Company through the Right Offering
    
  Agenda 4    To consider and approve the reduction in registered capital of the 
Company in the number of 294 shares at the par value of Baht 1.00 per share,
from the existing registered capital of Baht 419,999,076 to Baht 419,999,782, by
cancelling the Company's unissued shares. And approved the amendment of Clause
4 of the Company's Memorandum of Association to be in line with the reduction of
 the Company's registered capital.

  Agenda 5    To consider and approve the increase of registered capital of the 
Company in the number of 174,999,492   shares at the par value of Baht 1.00 per
share, from the existing registered capital of Baht 419,998,782 to Baht
594,998,274 to allocation of the dividend payment and to accommodate the
exercise of the warrants to purchase the newly issued ordinary share of the
Company. And approved the amendment of Clause 4 of the Company's Memorandum of
Association to be in line with the increase of the Company's registered capital.
    
  Agenda 6    To consider and approve the allocation of the newly issued ordinary 
shares of the Company to accommodate the exercise of the warrants to purchase
newly issued ordinary shares of the Company.
    
6.Approved that 29 August, 2016 will be fixed as the record date for determining
the shareholders entitled to attend the Extraordinary General Meeting of
Shareholders No. 1/2016 and 30 August 2016 will be fixed as the share register
book closing for compiling the list of shareholders in accordance with Section
225 of the Securities and Exchange Act B.E. 2535 (1992)

7.The name of shareholders who have right to receive dividend shall be record on
27 September 2016. The book closing date in which the list of shareholder shall
be compiled in accordance with Section 225 of the Securities and Exchange Act
shall be on 28 September 2016. The stock dividend shall be paid on 12 October,
2016.
______________________________________________________________________
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.