February 1st, 2005
Subject:Allowance the Other As Co-owner of Title Deed to the Company's Land
To :The President
The Stock Exchange of Thailand (SET)
The Union Mosaic Industry Public Company Limited ("The Company") would
like to raise a loan from financial institution by making registered mortgage
for title deed of land no 17841, which is the location of building UMI 1 Plant 1
as security guarantee. But title deed of this piece of land is the land without
entrance and exit, so the financial institution make a request that the company
make a register to give easement for entrance and exit to the mentioned land.
Since all the surrounding land of the mentioned land belong to the company,
which according to the land code specify that dominant property and servient
property shall not be the same owner and the other as co-owner in servient
property.
According to the mentioned regulation, the company has to make an
arrangement for the title deed to the land no. 16291 and no. 17839, which
are the plot of surrounding land to title deed of land no. 17841 to the other
as co-owner with the company by making transaction according to the market
price and it is a higher price than the assessed price by the official. The
title deed of the land 16291, the other can hold the title for only 2 square
wah as ratio of 2 parts to 570 parts. And title deed of land no. 17839, the
other person can hold the title for 3 square wah as ratio of 3 parts to 3124
parts. In order that these two pieces of land shall have the co-owner by the
other and can make the registration to grant easement for entrance and exit
to the land no. 17841. Therefore, the arrangement is made to allow the
other person to share title as co-owner with the company by Miss Paweena
Laowiwatwong the Chairman of the Executive Board of Directors is assigned
as the co-owner to make the transaction at price Baht 10,000.00 per square wah.
Please be informed accordingly.
Yours Sincerely,
(Miss Paweena Laowiwatwong)
Chairman of the Executive Board of Directors
