26 July 1996
REPORTS USE OF PROCEED FROM CAPITAL INCREASE AS OF JUNE
BEC World Plc. (BEC) reported progress in the uses of the proceeds from its capital increase as of June 30, 1996. BEC previously placed its 20 million capital increased common shares with the general public at Bt142 apiece, and has applied for the listing of its 200 million common shares with the Stock Exchange of Thailand (SET). The SET permitted trading of the company's share on the stock market beginning July 18, 1996. The company now reports on the progress of the uses of the of the capital according to the objectives stated in the prospectus as follow: 1. An investment of about Bt400 million in the improvement of broadcasting equipment nationwide: The project is presently being prepared, so funds have not been spent on the project yet. 2. An investment of about Bt700 million in a 350-meter broadcast antenna: The project is presently being prepared, so funds have not been spent for the project yet. 3. Repayment of about Bt1 billion for the company's and its subsidiaries' loans secured from financial institutions: BEC has already repaid the full amount of the long-term loans worth Bt945 million as of May 28, 1996. 4. An amount of about Bt740 million was used as the company's working capital. This amount remained from the repayment of loans, stated in no.3, and has entirely been used as working capital.