- TRANSLATION -

 

Ref: MGT/SET/08/018                                                               13 November 2008

 

 

Attention:     The President

                    The Stock Exchange of Thailand

 

Subject:      Additional Information for Investment in Subsidiaries

 

We, Christiani & Nielsen (Thai) Public Company Limited wish to report the resolution of the Board of Director Meeting No. 381 held on 12 November 2008 at 10.00 a.m. at the Company’s meeting room in relation to the restructure of Company’s investment by approving the investment in Harmony Property Group Limited and Indochina Investment Co., Ltd., foreign subsidiaries (held by CNT Holdings Limited, the Company’s subsidiary) for the amount of USD 150,000 and USD 108,000 respectively, as follows:

 

1     Company Name                          Harmony Property Group Limited

       Registered Country                     British Virgin Island

       Main Business                            Holding company

       Former shareholders

       before capital increase               CNT Holding Limited (Company’s subsidiary)

      

       Registered and paid-up capital:

       Before capital increase               USD 50,000 or equivalent to Baht 2,112,500

       After capital increase                  USD 200,000 or equivalent to Baht 7,362,500

       (Exchange Rate USD 1.00 = Baht 35.00)

 

       Company’s investment and holding:

       After increase                              USD 200,000 or equivalent to Baht 7,362,500

       Held by the Company                 USD 150,000 or equal to 75% and

       Held by CNT Holding Limited      USD 50,000 or equal to 25%

 

2.    Company Name                          Indochina Investments Limited

       Registered Country                     Bermuda

       Main Business                            Holding company

       Former shareholders

       before capital increase               CNT Holding Limited (Company’s subsidiary)

      

       Registered and paid-up capital:

       Before capital increase               USD 12,000 or equivalent to Baht 296,280

       After capital increase                  USD 120,000 or equivalent to Baht 4,076,280

       (Exchange Rate USD 1.00 = Baht 35.00)

 

       Company’s investment and holding:

       After increase                              USD 120,000 or equivalent to Baht 4,076,200

       Held by the Company                 USD 108,000 or equal to 90% and

       Held by CNT Holding Limited      USD 12,000 or equal to 10%

 

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Ref: MGT/SET/08/018                                                                                page 2/2

 

 

Transaction date     :      Within 4th Quarter of 2008

 

Cause and benefit the Company will obtain:

To restructure and strengthen the financial position suitable for the operation in foreign countries.

 

Source of Funds:     From Company’s working capital

 

However, after capital increase in Harmony Property Group Limited and Indochina Investments Limited, the Company shareholding in the above mentioned subsidiary companies shall remain the same i.e. 100%

 

 

Please be informed accordingly.

 

Yours sincerely,

Christiani & Nielsen (Thai) Public Company Limited

 

- Signed -

 

Danuch Yontararak

Director and Company Secretary