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