SET Announcements

BEC World Plc (BEC) notified board resolutions made at the 5/1997 meeting held on Jul 8, 1997 as follows: 1.To approve the minutes made by board meeting No. 4/1997 2.To purchase ordinary shares amounting to 7.2 m units or 20% of registered capital of CVD Entertainment Plc at the price of Bt45 apiece, totalling to Bt324 m, details as follows: 2.1 purchase 1.2 m existing shares at the price of Bt45 each, totalling to Bt54 m 2.2 purchase 6 m capital increased shares, Bt45 apiece, totalling to Bt270 m This investment claimed over 10% of another's registered capital so the disclosure of transaction is shown below: 1.Date of transaction : July 8, 1997 (purchase of 7.2 m units, Bt45 each, of CVD at closed price averaged for 40 working days since May 2 - Jun 30, 1997) 2.Details of asset bought : type of securities--ordinary shares of CVD Entertainment Plc, listed company in the SET, comprised of 6 m capital increased shares and 1.2 m existing shares, totalling to 7.2 m units company--CVD Entertainment Plc Type of business--producer and distributor of VDO tape recording; V-Cassette and V-O Cassette and recorder of film on VDO cassette 3.Total remunerations : Bt324 m, paid in cash 4.Source of fund : working capital 5.Objective of investment : to modify company's entertainment business to VDO Cassette sector, agen distributor of local and oversea film recorded in VDO, which is recently mushrooming 6.Anticipated benefit : business expanded and dividend from CVD Comment : Please verify details from Public SIMS Translated by The Nation