News Detail

Date/Time
27 Mar 2020 17:10:00
Headline
To postpone the Annual General Meeting of Shareholders for Year 2020 and the Approval of Interim Dividend Payment
Symbol
STEC
Source
STEC
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                Dividend payment / Omitted dividend payment

Subject                                  : Cash dividend payment
Date of Board resolution                 : 27-Mar-2020
Type of dividend payment                 : Cash dividend payment
Record date for the right to receive     : 25-Mar-2020
dividends
Ex-dividend date                         : 24-Mar-2020
Payment for                              : Common shareholders
Cash dividend payment (baht per share)   : 0.30
Par value (baht)                         : 1.00
Payment date                             : 24-Apr-2020
Paid from                                :
    Operating period from 01-Jan-2019 to 31-Dec-2019
Remark                                   :
ST/2020/0161    

    27th March 2020

Subject:    Disclosure of the resolutions of the Board of Directors Meeting No. 
2/2020 re: To postpone the Annual General Meeting of Shareholders for Year 2020
(the "2020 AGM") by cancellation of the agenda items and the AGM No. 26/2020 as
scheduled on 24 April 2020, and the Approval of Interim Dividend Payment

To:    Directors and Manager of the Stock Exchange of Thailand

References: (1) Company's Letter No. ST/2020/0146 dated 11th March 2020 re: The 
Issuance of Dividends Payment and the Annual General Meeting of Shareholders for
 Year 2020;
    (2) Company's Letter No. ST/2020/0151 dated 12th March 2020
    re: the Amendment of the name and numbers of the Company's authorized directors
 and updated venue of the AGM 26/2020

Whereas, Sino-Thai Engineering & Construction Public Company Limited (the 
"Company") notified the Stock Exchange of Thailand regarding the Annual General
Meeting of Shareholders for Year 2020 (the "2020 AGM") which has been scheduled
on April 24, 2020, at 14.00 hours, at the Grand Ballroom 4th Floor of Pullman
Bangkok Grande Sukhumvit, No. 30 Sukhumvit 21 Road (Soi Asoke), Klongtoey Nua
Sub-district, Wattana District, Bangkok Metropolis, and the dividend payment
from the 2019 operational results (details of which were appeared in the
Reference).

The outbreak of the novel coronavirus disease 2019 ("COVID-19") has continuously
increased and began to spread more widely in Thailand. At this stage, it is not
possible to predict the trend of the epidemic and the severity of the situation
during the period of the 2020 AGM.  In addition, the Thai Government has
requested cooperation to reduce activities including no gatherings with many
people, which may cause the spread of the said epidemic.  The Company concerns
the health and safety of its shareholders, Directors, Executives and the
Company's staffs including all related parties.  As such, the Board of Directors
Meeting No. 2/2020 held on March 27, 2020, considered and has adopted the
following resolutions:

1.    Approval of the postponement of the Annual General Meeting of Shareholders 
for Year 2020 indefinitely by cancellation of the said AGM and all the agenda
items of the 2020 AGM No. 26/2020 originally scheduled on April 24, 2020, as
well as cancellation of the Record date for determining the shareholders who are
eligible to attend and vote at the 2020 AGM, which was fixed on March 25, 2020.
The Board of Directors will consider matters regarding the new date and agenda
matters of the 2020 AGM as soon as possible when the situation is resolved and
considered appropriate to convene the 2020 AGM, which the Company will
subsequently inform the shareholders.  Such postponement of the 2020 AGM will
not cause any significant effect on the Company's business operation and will
not affect the shareholders' right to receive the dividend.

2.    Approval of interim dividend payment from the Company's net profit as of 
December 31, 2019, at the rate of 0.30 (Thirty Satang) per share to the
Company's shareholders holding 1,525,106,540 shares, the total amount of
dividends of Baht 457,531,9620.06 Baht, which is 48.31% of the net profit, after
deduction of corporate income tax according to the Company's financial
statement ended on December 31, 2019 and which were the same rate that the
Company notified the shareholders via the Stock Exchange of Thailand recently.
The dividends payment is subject to withholding tax of 10%, which is Baht 0.03
per share.

In this regard, the interim dividend payment shall be payable to the 
shareholders who were listed and will be entitled to receive dividends on March
25, 2020 (the "Record Date"), which is the same date that the shareholders had
already been informed according to the resolution of the Board of Directors No.
1/2020 held on March 11, 2020, and payment of interim dividends to shareholders
by April 24, 2020.
The reason why the Board of Directors considered and has approved to declare the
interim dividend payment instead of proposing to the annual ordinary
shareholders meeting for their approval on the annual dividend payment is to
reduce the potential impact on the shareholders from the indefinite postponement
of the Annual General Meeting of Shareholders for Year 2020 of the Company due
to the said epidemic.  Hence, at the 2020 AGM (to be held in the future) in the
agenda of dividend payment approval, the Board of Directors will propose the
omission of additional dividend payment for the year 2019.

The Board of Directors will reconsider and determine the agenda items and date 
for holding the new Annual General Meeting of Shareholders for Year 2020 when
the situation is unraveled and considered appropriate, and the Board of
Directors will notify the shareholders accordingly.





Please be informed accordingly and please accept our sincere apologies for this 
inconvenience.


    Sincerely yours,
    Sino-Thai Engineering & Construction Public Company Limited




    (Mr. Pakpoom Srichamni)
    President
______________________________________________________________________
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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
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