SET Notification

Establishment of Sarn Palung Social Enterprise Company Limited

25 August 2017

PTTEP 13061/00-6896/2017                                                                                                      

Investor Relations                                                                                                   
Tel. 0-2537-5919, 0-2537-5304, 0-2537-5779,
0-2537-4446, 0-2537-4000 ext. 800-7374

25 August 2017

President
The Stock Exchange of Thailand
93 Ratchadaphisek Road, Dindaeng
Bangkok 10400

Dear Sir,

Subject:           Establishment of Sarn Palung Social Enterprise Company Limited

PTT Exploration and Production Public Company Limited (PTTEP) is pleased to inform that the PTTEP’s Board of Directors at the meeting No. 11/2560/429 on 27 July 2017 has passed a resolution to establish Sarn Palung Social Enterprise Company Limited which is the joint venture among PTT group companies. The initial registered capital is 10,000,000 Baht, with the following shareholding structure.

PTT Public Company Limited      20%
PTT Exploration and Production Public Company Limited 15%
PTT Global Chemical Public Company Limited 15%
Thai Oil Public Company Limited    15%
IRPC Public Company Limited       15%
Global Power Synergy Public Company Limited 10%
PTT Oil and Retail Business Company Limited                               10%

The establishment of the company is to support the execution of social enterprises of PTT group companies. The company aims to conduct business with focus on resolving social and environment issues as well as to promote employment of local communities in an efficient and sustainable manner with public’s participation in PTT group’s business. In addition, such establishment supports government policy that encourages private sector and state enterprise to participate in grooming and incubating social enterprise.

The transaction is not a connected transaction and the transaction size does not require disclosure under the rule, procedures and disclosure of information concerning the acquisition and disposition of assets of listed company, but this report is in accordance with the disclosure of investment in a company with a proportion of 10% or more of its paid up capital.

Sincerely yours, 

Somporn Vongvuthipornchai  

Somporn Vongvuthipornchai
President and Chief Executive Officer