raises registered capital

Dusit Thani Plc (DTC) will raise its registered capital by Bt154.5 million to invest in its subsidiary, Dusit Sinthorn Co and/or a subsidiary of Dusit Sinthorn Co. In a filing to the Stock Exchange of Thailand (SET), DTC said that the decision was made at its board meeting yesterday. The board, said DTC, also approved to change the par value of its shares from Bt5 to Bt10. DTC said it will increase its registered capital from Bt455.5 million to Bt600 million by issuing 15.45 million new shares at a Bt10 par worth Bt154.5 million. New shares will be allocated to its existing shareholders and twelve directors of the company, said DTC. The existing shareholders will be allocated 14.85 million shares at the ratio of 3 old shares to one new share at Bt40 apiece. Odd shares will be discarded. The subscription and payment date will be between July 21-28, 1995. DTC reported that its 12 directors will each be allocated 50,000 shares at Bt40 per share. Those directors are Khunying Chanat Piyaoui, Chalerm Cheosakul, Dr.Jirayu Isarangkul Na Ayudhya, M.R.Yongswadi Krisdakorn, Somboon Nantapiwat, Sansern Kraijitti, Dr.Sompop Susangkarn, Chatri Sophonpanich, Lieutenant Colonel Worapong Piyaoui, Banterng Tantiwit, Chanit Tonawanik, and Sinee Thienprasit. Those directors who have interest in the shares allocation will not have the voting rights regarding the matter. The resolution of the shareholders must equal three fourths of the eligible voters who attend the meeting. The registrar book will be closed at noon on June 27 for the right to the new issue, 1995, said DTC. Dusit Thani also reported that if there are any remaining shares from the allocation, they will all be allocated to Khunying Chanat Piyaoui, the company's chairman and managing director. DTC said that the purpose of the capital increase is to invest in Dusit Sinthorn Co and/or the subsidiary of Dusit Sinthorn Co which will increase its registered capital to purchase shares in Kempinski Co, in Germany. Translated by the Nation