Board approved taking loan THB 3,600 mil to refinance PTW

BackOct 01, 2009

- Translation -

No. TTW/0666/09

1 October 2009

Subject : Notification of the Resolutions of the Board of Directors' Meeting No. 9/2552

Attention : President The Stock Exchange of Thailand

Thai Tap Water Supply Public Company Limited ("the Company") would like to notify that the Board of Directors Meeting No. 9/2552 held on 30 September 2009, at Prakaipetch Room, 3rd Floor, The Emerald Hotel, 99/1 Rachadapisek Road, Din Daeng,Bangkok, had resolved to approve the following;

1. Approved of borrowing Baht 3,600 million, from financial institutions. The loan amount of Baht 3,100 million will be used for refinancing the debt structure of Pathum Thani Water Company Limited - the Company's subsidiary, holding 98% of total shares,and the remaining amount of Baht 500 million will be reserved as the Company's cash flow,and/or for capital expenditure for plant expansions, and/or for other future capital expenditures.

2. Approved of restructuring of the Company's group's operation works to be managed under a single entity, to increase the group's efficiency, by means of merging WaterFlow Company Limited - the Company's wholly-owned subsidiary, and BJT Water Company Limited - Pathum Thani Water Company Limited's wholly-owned subsidiary. The Company expects the merger to complete within the first quarter of 2010, and this transaction would not have significant effect to the Company's equity in WF and BJT.

 

Please be informed accordingly.

 

Very truly yours,

 

(Sompodh Sripoom)
Managing Director

 

Office of Managing Director
Telephone : 0-2811-7528 Ext. 207
Facsimile : 0-2811-7687

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