Report to SET

Disposition of the Remaining Shares Held in NFC

This is to notify to the SET that during 30 November – 2 December 1999, Padaeng Industry Public Company Limited sold the remaining 1,196,410 shares held in National Fertilizer Public Company Limited (NFC), equal to 0.25% of NFC’s total paid-up shares, to investors in the SET. The net proceeds amounted to Bt5,523,364.02. A loss of Bt6,440,735.98 from the said shares disposition will be acknowledged in the company’s audited financial statements for the year ended 31 December 1999.

The above-referred transactions does not fall in any category according to the SET’s rules, procedures and disclosures of information regarding the acquisition and disposition of assets of listed companies nor any connected transactions of listed companies.

Objective of the asset disposition : To rid of non-performing asset which does not enhance the company’s main business.
Plan for utilizing proceeds from the asset disposition : To be used as the company’s working capital.