The Reviewed F/S for Q1/2006 & Issuance of Right Warrant

BackMay 09, 2006


May 8, 2006

Subject :   To report the resolution of the Board of Directors' Meeting, session. 3/2006

To :        President
            The Stock Exchange of Thailand

The Board of Directors' Meeting, session 3/2006 of SVI Public Company Limited held on May 8, 2006, at Board Room, Pacific City Club, 142 Sukhumvit Road, Bangkok, at 15:10 PM,has resolved the followings:

  1. The Minutes of the Board of Directors Meeting, session 2/2006 be certified.
  2. Approved the report of the company's operating results for the Quarter 1/2006.
  3. Approved the Reviewed Financial Statements for the Quarter 1/2006 which has already been approved by the Audit Committee.
  4. Approved the issuance of 35,872,808 units of warrant to purchase common share No.2 (SVI-W2) with the indicative terms of the warrants as follows:

    Type : Right Warrants to purchase ordinary shares of the Company.
    Offering/Allocation :  To be offered to the existing shareholders at the ratio of 4 shares to 1 unit of warrants.  (Any fraction will be disregarded.)
    Amount : 35,872,808 units.
    Offering price : Baht Zero.
    Term : 4 years commencing from the issued date of the right warrants.
    Exercise ratio : 1 unit of warrants per 1 ordinary share.
    Exercise price : Baht 10 for each new ordinary share.
    Exercise period : Every Quarter, after 1 year from the and condition for exercise approval made by the Securities and Exchange Commission
    Offering period : To be exercised after 1 year from the approval of the Securities and Exchange Commission being obtained.
    Listing  : The right warrants will be listed in the Stock Exchange of  Thailand, which is subject to be complied with related rules and regulations.

  5. Approved the increase of the registered capital of the Company by Baht 358,728,080 (Baht three hundred fifty-eight million seven hundred twenty-eight and eight), from Baht 1,505,349,990 (Baht One thousand five hundred five million three hundred forty-nine thousand and nine hundred ninety) to Baht 1,864,078,070 (Baht One thousand eight hundred sixty-four million seventy-eight thousand seventy), with the par value of Baht 10 (Baht Ten)

  6. Approved the amendment of Clause 4 of the Memorandum of Association of the Company, in compliance with the increase of the registered capital of the Company in Item 4.

  7. Approved the allotment of newly-issued ordinary shares of the Company. To support the exercise the right of warrants in purchasing the ordinary shares of the Company issued to the shareholders of the Company in Item 4.

We, therefore, inform you of the above for your acknowledgment and dissemination to the public and other investors.

Yours faithfully,

(Ms. Pissamai  Saibua)
Chief Finance Officer