25 July 1997
EPORTS ON UTILISATION OF PROCEEDS
BEC World Plc (BEC) revealed the utilisation of proceeds received from
capital-increase share offering as follows:
1.Bt400 m on nationwide broadcasting device amelioration : This
investment must be brought about regularily in order to satisfy the
audience all the time. As the company had spent on this project in advance
of capital increase approved, the investments in 1996 stayed merely Bt70.2
m and Bt34.3 m in the first half year of 1997.
2.Bt700 m on 350-metre-tall broadcasting pole : After it cancelled a
plan to construct a new office at Rama IX area as reported on Nov 13, 1996,
this project is still shelved and studied for the possibility to continue.
So, the investments on this project has not been spent.
3.Bt1 b on repayment to financial institutions : The company and
subsidiaries already completed the repayments totalling to Bt945 m to
creditor financial institutions.
4.Bt740 m on company's working capital : The proceeds valued Bt740 m
was accumulated in company's working capital including those remaining
from (1), (2) and (3) too.
Previously BEC issued 20 m capital increased shares on public
offering at the price of Bt142 per share and had those 200 m shares listed
in the stock market being traded since Jul 18, 1996.