27 March 2008
Additional notification the amalgamation of subsidiaries
March 26, 2008
Attention: The President,
The Stock Exchange of Thailand
Re: Additional Notification of the Amalgamation between Royal Princess
PCL and Dusit Hotels and Resorts Co., Ltd.
Dear Madam,
Reference is made to the Notification dated March 25, 2008 from Dusit Thani
PCL (the "Company") to the Stock Exchange of Thailand regarding the
amalgamation between Royal Princess P and Dusit Hotels and Resorts Co.,
Ltd. whereby Company has approved that its subsidiary company, Dusit Thani
Property Co., Ltd., shall purchase the shares from any minority shareholders
who obstructs such amalgamation. Company would like to provide additional
information of the value of such transaction calculated under assumption that
all minority shareholders obstruct amalgamation and sell shares to Dusit Thani
Property Co., Ltd. as follows:
Calculation of the Value of the Transaction (Unit: Million Baht)
1. Net Tangible Assets Basis (NTA) (as of December 31, 2007)
34
Royal Princess PCL = 0.90 %
( portioned to minority shareholders ) 3,766
9
Dusit Hotels and Resorts Co., Ltd. = 0.24 %
( portioned to minority shareholders ) 3,766
1
2. Net Profit Basis (For Year 2007)
Net Profit of Royal Princess PCL ( portioned to minority shareholders )
3.2
= 2.62 %
122
Net Profit of Dusit Hotels and Resorts Co., Ltd. can not be calculated
due to the loss of the operation of Dusit Hotels and Resorts Co., Ltd.
3. Total Value of Remuneration
58
Shares of Royal Princess PCL = 0.89 %
6,515
14
Shares of Dusit Hotels and Resorts Co., Ltd. = 0.21 %
6,515
4. The value of securities - can not be calculated because no security is
issued to
pay for assets.
According to above calculation, neither item is higher than 15% nor be
connected transaction under the Regulation of the Stock Exchange of
Thailand.
Please be informed accordingly.
Sincerely yours,
Dusit Thani PCL
Mr. Chanin Donavanik
Managing Director
2