The Union Mosaic Industry Plc reported the waive of purchasing capital
increased shares issued by UMI Laufen-Sanitaryware Co Ltd (UMILS) and
shares offered by UMILS and UMI Mining Co Ltd (UMIM) as follows:
UMI was resolved by the board to:
1. not to purchase capital increased shares and some of shares in UMILS
2. to sell all stake in UMIM
Details are illustrated follows:
I not to purchase newly-issued shares
1. Date of tranaction : Jan 10, 1997
2. UMILS : producing sanitaryware with paid-up registered capital
amounting to Bt200 m and 34% or Bt68 m onwed by UMI
3. UMILS was to raise capital from Bt200 m to Bt250 m dividing into
2.5 m, Bt100 apiece
4. Holding proportion after capital increase : 680,000 units (27.2%)
as UMI waived subscription to Mr Nathchana Penchart, director of UMI and
UMILS.
5. Objectives :
-due to downturn economy
-It is long-term yield.
-UMI must preserve its liquidity.
6. Transaction size : 0.03-3%
II to sell some stake in UMILS
1. Date of transaction : Mar 29, 1997
2. Partners
Seller : UMI
Buyer : Miss Pavina Laowiwatwong and Mr Nathchana Penchart
3. Paid-up registered capital of UMILS : Bt250 m, 2.5 m units, Bt100
par value
4. Holding proportion : 680,000 (27.2%)
UMI would sell 205,000 shares, Bt100 apiece, totalling to Bt20.5 m
without profit in this trading and repayment is due on trading date.
5. Objective : to boost its liquidity
6. Relation : Miss Pavina is director of UMI and UMILS and either is
Mr Nathchana.
7. Transaction size : lower than 15% concerning acquisition
/disposition of listed company's assets and 0.03-3% concerning connected
transaction
III not to purchase capital increased shares issue 2
1. Date of transaction : Jul 1, 1997
2. UMILS : to raise capital from Bt250 m to Bt430 m in which UMI held
19% or Bt47.5 m.
3. Holding proportion after capital increase : 475,000 units (11.05%)
as UMI waived shares to Ceramic Holding AK Laufen Co, who has no relation
with UMI
4. Objectives :
-due to downturn economy
-It is long-term yield.
-UMI must preserve its liquidity.
5. Transaction size : lower than 15%
UMI was to sell stake in UMIM :
1. Date of transaction : Aug 1, 1997
2. Partners :
Seller : UMI
Buyer : Special Promotion & Advertising Co Ltd
Asset disposed : shares in UMIM
3. Registered capital : Bt5 m, 50,000 shares, Bt100 apiece, totally
paid up
4. Holding proportion : UMI is holding 24,940 shares (49.88%) in UMIM
and 29,940 units were sold at the price of Bt95.83 each share. UMI lost
Bt104,000 which will be realised in Q3/1997. Terms of payment is shown
below:
Dated on Aug 1, 1997 = Bt600,000
Dated on Sep 30, 1997 = Bt895,000
Dated on Jul 30, 1997 = Bt895,000
5. Objective : UMI sees raw material, one ore, is not in short and the
possession of its own mine may waste too much.
6. Relation : -none-
7. Transaction size : lowe than 15%
