Report to SET

23/Apr/02
Notification of resolutions of the 2002 ordinary shareholders’ meeting

This is to notify the SET that the 2002 ordinary shareholders’ meeting of Padaeng Industry Limited, held on 23 April 2002, has resolved the following:

  1. Noted the company’s performance result and the board of directors’ report for the year 2001.

  2. Approved the audited balance sheets and profit and loss statements for the year ended 31 December 2001.

  3. Approved that no dividend will be paid out for 2001.

  4. Acknowledged 4 board members who retired by rotation, namely Mr. Kosit Panpiamraj, Mr. Pinit Vongmasa, Mr. Karel Vinck and Mr. Michel Moser and unanimously approved to re-elect them as directors for another term and acknowledged the resignation of Mr. Areepong Bhoocha-oom, representative of Ministry of Finance, from PDI’s directorship effective 19 April 2002.

  5. It was also acknowledged the appointment of 3 Audit Committee members namely Mr. Vinai Vamvanij, Mr. Aswin Kongsiri and Mr. Paron Israsena, who were due to retire by rotation at 31 December 2001, as the Audit Committee of the company for another term.

  6. Approved that there will be no bonus payment to the board members for 2001.

  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 2002. The 2002 audit fee for the company is Bt2,800,000. The said fee does not include other necessary expenses to be actually incurred.

  8. Approved that the company uses the Legal Reserve under Section 116 and the Share Premium Reserve under Section 51 to offset with the unappropriated retained earning account to a negative balance of Bt1,088,613 in the company’s consolidated and none in the company only’s financial statement.