Notification of the subscription of ordinary shares and the exercise of warrant under the Employee Securities Option Plan of Thai Airways International Public Company Limited
Reference is made to the allocation of ordinary shares to employee 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 and the result of the subscription of ordinary shares and the exercise of warrant as follows:
1. The Extraordinary Shareholders’ Meeting of the Company No. 1/2002 on August 30, 2002 has approved 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 employees have indicated their intention to receive the securities as follows:
1. 22,205 employees were allotted ordinary shares, totaling to 14,565,700 shares. The subscription will be made twice, each of 7,282,850 shares at 15 Baht per share; i.e. first subscription during September 27 – October 1, 2004 and last subscription during March 28 – April 1, 2005.
2. 400 employees were allotted 309,300 units of warrants to purchase ordinary shares of Thai Airways International Public Company Limited, specifying the name of the holder and nontransferable except in the case of succession.
- Offering Price : 0 Baht per unit
- Exercise Ratio : 1 unit of warrant can be exercised for 1 ordinary share unless there is any adjustment to the exercise ratio
- Exercise Price : 15 Baht per unit
2.2.1 The 154,650 units of type-one warrant (THAI-WA)
The first exercise date is on October 4, 2004, and every 3 months thereafter. The last exercise date is on April 2, 2007.
2.2.2 The 154,650 units of type-two warrant (THAI-WB)
The first exercise date is on April 4, 2005, and every 3 months thereafter. The last exercise date on April 2, 2007.
3. There are 224 employees who have refused to receive securities under the ESOP, totaling to 125,000 units.
3. Result of the subscription of ordinary shares during March 28 – April 1, 2005 and the exercise of warrant on April 4, 2005.
1. There are 20,230 employees who have subscribed to 6,659,150 shares at 15 Baht per share, totaling to 99,887,250 Baht. There are 1,975 employees who have not subscribed the share totaling to 623,700 shares.
2. There are 19 employees who have exercised type–one warrant for 7,150 shares at 15 Baht per share, totaling to 107,250 Baht. There are 25 employees who have not exercised 9,250 units of type–one warrant. The next exercise period of type–one warrant is from June 27, 2005 to July 1, 2005.
3. There are 340 employees who have exercised type–two warrant for 130,700 shares at 15 Baht per share, totaling to 1,960,500 Baht. There are 60 employees who have not exercised 23,950 units of type–two warrant. The next exercise period of type–two warrant is from June 27, 2005 to July 1, 2005.
4. In total, there are 20,589 employees who have purchased 6,797,000 shares at 15 Baht per share, totaling to 101,955,000 Baht.
