Report to SET

28/Apr/00
Resolutions of the 2000 Ordinary Shareholders’ Meeting

The 2000 ordinary shareholders’ meeting of Padaeng Industry Limited, held on 28 April 2000, has resolved the following :

1. Noted the company’s performance result and the board of directors’ report for the year 1999.

2. Approved the audited balance sheets and profit and loss statements for the year ended 31 December 1999 and approved that no dividend will be paid out for the year 1999.

3. Acknowledged 3 board members who retired by rotation, namely Mr. Paron Israsena, Mr. Rod Webster and Mr. Pinit Vongmasa and unanimously approved to re-elect them as directors for another term. It was also acknowledged an appointment of Mr. Aswin Kongsiri as new director and audit committee member replacing the post left vacant by Mr. J. Grahame Yong of the remaining of Mr. Young’s term, effective on 25 May 1999.

4. Approved annual remunerations to the Board of directors at Bt200,000 per year. The above referred remunerations payment will be made quarterly. The directors fees will be revised as follows : Chairman : Bt20,000 per meeting, director : Bt15,000 each per meeting, and there is no bonus payment to the directors for the year 1999.

5. Approved appointment of Prof. Toemsakdi Krishnamra and/or Dr. Suphamit Techamontrikul and/or Mrs. Nachalee Boonyakarnkul, Certified Public Account ant Registration Nos. 1106, 3356 and 3126 respectively of Deloitte Touche Tohmatsu Jaiyos Co., Ltd. as the company’s auditors for the year 2000, and the aggregate audit fee totalling Bt2,365,125 per year. The said fees exclude other necessary expenses to be actually incurred.