clarifies capital increase news

Electricity Generating Plc (EGCOMP), in a clarification to the Stock Exchange of Thailand, said that the published report concerning its capital increase plan was distorted. The report said that the company would issue 80 million news shares and offered 70% of them or 56 million shares as the rights issue at the ratio of one old shares to one new share. The report also said that the remaining 30% of the new shares or 24 million shares will be sold abroad. EGCOMP insisted that its extraordinary shareholders meeting no.1 /1995 on August 22, 1995 approved that the company raise its registered capital from Bt4 billion to Bt5.3 billion by issuing 130 million capital increase shares at a Bt10 par. The company addded that a total of its 40 million new shares would be offered to its existing shareholders at the ratio of ten old shares to one new share at Bt30 apiece. In addition, not more than 80 million shares would be offered to general public with shares to be offered locally equal to 70% and those to be offered abroad equal to 30%, said EGCOMP. The selling price will be determined by the company's board depending upon the conditions of the market. The remaining shares, said EGCOMP, would be reserved for the exercise of 10 million warrant units that would be issued and offered to the company's and its subsidiaries' employees. One warrant unit can be used to purchase one common share at the price of Bt30 apiece. Translated by the Nation