THAI Announces Results From Board Of Directors’ Meeting

21st Sep 2000

21 September 2000, upon the culmination of Thai Airways International Public Company Limited’s Board of Directors’ Meeting at THAI’s Head Office, THAI’s Chairman Mr. Mahidol Chantrangkurn announced the following:

1. THAI Announces New President

THAI`s Board of Directors has announced the selection of Mr. Bhisit Kuslasayanon, Executive Vice President for Customer Services, as THAI`s incumbent president, effective as of 1 October 2000 onwards.

2. Plans to Increase THAI Shares & Date Set for THAI’s Shareholders’ Meeting 1/2000

THAI’s Board of Directors granted approval for the increase in THAI shares, to be proposed for consideration by the shareholders during THAI’s Shareholders’ Meeting as follows:


* 2.1 To consider the approval of decreasing THAI’s registered share capital from 16,000 million baht to 14,000 million baht, by decreasing the registered share capital that has not been issued which amounted to 200 million shares at 10 baht per share or the value of 2,000 million baht.

* 2.2 To consider the increase of THAI’s registered share capital from 14,000 million baht to 17,000 million baht by increasing the amount of shares by 300 million shares at 10 baht per share, with the share offering plan being as follows:

a) 127.5 million shares to be sold to strategic partner

b) 157.5 million shares to be proposed for public offering
c) 15 million shares to be offered to prospective employee shareholders in the Employee Stock Ownership Plan (ESOP).

In addition, THAI’s Board of Directors has approved of adjustments made to the company’s prospectus in order to be in alignment with the change in the company’s registered share capital. THAI’s Board has also given approval to hold THAI’s Shareholders’ Meeting 1/2000, which will be held on 25 October 2000 at 13.30 hours, in the Auditorium at THAI’s Head Office, in order to obtain approval for the sale of THAI’s shares. The registrar will be closed for proxy shareholder attendance registration or sale of THAI shares on the Stock Exchange of Thailand (SET) on 6 October 2000 at 12.00 hours, after which the sale or transfer of shares will cease until after THAI’s Shareholders’ Meeting ends.

3. Progress Concerning Performance Evaluation of State Enterprises

THAI’s Board of Directors approved of the plan to evaluate the progress of the airline as a state enterprise, under requirements established by the Ministry of Finance which is in accordance with performance evaluation procedures that have been approved by the Thai Cabinet on 20 June 2000. The Ministry of Finance will begin evaluating THAI using this system as of the year 2001 onwards.



Recommended for you

Follow Breaking Travel News

Travel Events Calendar

Media Partnerships

Global Restaurant Investment ForumThe Hospitality & Tourism SummitCATHIC
ITB AsiaChina Outbound Travel & Tourism MarketThe Travel Marketing Store
Serviced Apartment SummitWorld Travel MarketIMEX
AHICWTTCRoutes Online
UBM Aviation