Notification of details of the Employee Securities Option Plan (“ESOP”) of Thai airways International Public Company Limited
Reference : 1. Letter No. Gor Bor. 07/039 on April 9, 2004
2. Letter No. Gor Bor. 07/103 on October 15, 2004
Reference is made to the notification of the intention of the employees to receive the securities and the subscription of ordinary shares and the 1stexercise of type-one warrant under the Employee Securities Option Plan (“ESOP”) of Thai Airways International Public Company Limited (“the Company”), as per reference. The Company would like to explain the details of the ESOP as follows:
1.During the Extraordinary Shareholders’ Meeting of the Company No. 1/2002 on August 30, 2002, approval has been granted to the establishment of the ESOP of the Company for the allocation of ordinary shares or warrants, altogether not exceeding 15 million shares/units.
2.The intention of the employees to receive the securities are as follows:
- There are 22,205 employees who intend to receive ordinary shares, totaling to 14,656,700 shares. The subscription will be made twice to 7,282,850 shares at 15 Baht per share. The first subscription will be made on September 27 – October 1, 2004 and the last subscription will be made on March 28 – April 1, 2005.
- There are 400 employees who intend to receive nonnegotiable warrants to purchase ordinary shares of Thai Airways International Public Company Limited specifying the name of the holder, except in the case of succession, totaling to 309,300 units.
- Offering Price : 0 Baht per unit
- o Exercise Ratio : unless there is any adjustment to the exercise, the exercise of 1 units of warrant entitles the receiving of 1 ordinary share
- o Exercise Price : 15 Baht per units
The 154,650 units of type-one warrant (THAI-WA)The purchase of ordinary shares is on October 4, 2004, and every 3 months thereafter, and the last purchase is on April 2, 2007.
154,650 units of type-two warrant (THAI-WB) The purchase of ordinary shares is on April 4, 2005, and every 3 months thereafter, and the last purchase is on April 2, 2007
- There are 224 employees who have refused to receive securities under the ESOP, totaling to 125,000 units.
3.The subscription of ordinary shares and the 1st exercise of type-one warrant under the ESOP of the Company.
- There are 21,011 employees who have subscribed to 6,941,300 share at 15 Baht per share,totaling to 104,119,500 Baht. There are 1 ,194 employees who have not subcribed to 341,550 share and the said shares will not be comblined to the last subscription.
- There are 351 employees who have exercised type–one warrant 134,900 shares at 15 Baht per share, totaling to 2,023,500 Baht. There are 49 employees who have not exercised type–one warrant 19,750 units. The Company has set the next exercise period of type–one warrant from December 27, 2004 to January 3, 2005, and has set exercise date on January 4, 2005.
- There are 21,362 employees who have received 7,076,200 shares at 15 Baht per share, totaling to 106,143,000 Baht.
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