April 25, 2001
This is to notify the SET that the 2001 ordinary shareholders' meeting of Padaeng Industry Limited, held on 25 April 2001, has resolved the following:
1. Noted the company's performance result and the board of directors' report for the year 2000.
2. Approved the audited balance sheets and profit and loss statements for the year ended 31 December 2000.
3. Approved that no dividend will be paid out for the year 2000.
4. Acknowledged 4 board members who retired by rotation, namely Mr. Arsa Sarasin, Mr. Vinai Vamvanij, Mr. Aswin Kongsiri and Mr. Areepong Bhucha-oom and unanimously approved to re-elect them as directors for another term.
It was also acknowledged the appointment of Mr. Michel Moser as new director replacing the post left vacant by Mr. Christian Lemaitre for the remaining of Mr. Lemaitre's term, effective on 21 February 2001.
5. Approved the Strategic Committee's fees amount Bt20,000 per member per attended meeting.
6. Approved that there will be no bonus payment to the board members for 2000.
7. Approved appointment of Mr. Suchart Luengsuraswat and/or Ms. Somsri Dhanyacheevee and/or Ms. Wimon Chiamchittrong and/or Mrs. Anothai Lekitwattana Certified Public Accountant (Thailand) No. 2807, 1905, 3365 and 3442 of PricewaterhouseCoopers ABAS Limited as the Company's auditors for the year 2001-2003. The audit fee for 2001, 2002 and 2003 are Bt3,000,000, Bt3,300,000 and Bt3,700,000 respectively. The said fees do not include other necessary expenses to be actually incurred.
8. Approved that the company uses the reserve for the business expansion to offset with the unappropriated retained earning account to lower the company's unappropriated retained loss to a negative balance of Bt961,146,217 and Bt810,257,804 in the company's consolidated and company only's financial statement respectively.