Dividend Payment from the Business Operations for the Fiscal Year 2005
Thai Airways International Public Company Limited (“the Company”) held the Board Meeting No. 15/2005 on Wednesday, November 23, 2005, at the Conference Room, 22nd Floor, Head Office Building, No. 89 Vibhavadi Rangsit Road, Khwaeng Jompol, Khet Chatuchak, Bangkok Metropolis. The resolutions will be proposed to the shareholders during the 2005 Annual General Shareholders’ Meeting. Details of the resolutions will cover:
1. Acknowledgement of the Company’s business operations results for the fiscal year 2005 ended on September 30, 2005.
2. Approval of the dividend payment from the Company’s business operations for the fiscal year 2005, with details as follows:
2.1 The dividend payment from the Company’s business operations for the fiscal year 2005 will be Baht 1.50 per share and will be paid to shareholders on Friday, January 20, 2006.
2.2 The closing date of the Company share registration for the right to receive dividend will be on Friday, January 6, 2006 at 12.00 hours.
3. Acknowledgement of retirement of one–third of the board members from the Company according to the Article 17 of the Article of Association of the Company, effective from December 23, 2005 onward. Retiring members are as follows:
3.1 Mr. Srisook Chandrangsu
3.2 Mr. Somchainuk Engtrakul
3.3 Mr. Chartsiri Sophonpanich
3.4 Mr. Chai-Anan Samudavanija
3.5 Mr. Tirachai Vutithum
4. Approval of remuneration, monthly allowance and bonus for the fiscal year 2006 as proposed by the Remuneration Committee with details as follows:
4.1 Board of Directors’ remuneration and monthly allowance
- Each member of the Board of Directors receives monthly remuneration of Baht 20,000 and monthly allowance of Baht 30,000 for each attended meeting.Should there be more than 1 meeting per month, each Board member will receive no more than Baht 30,000 per month, with the Chairman of the Board receiving 25% more than the other Board members and Vice Chairman receiving 12.5% more than the other Board members.All remuneration and monthly allowance are subject to income tax to be paid by Board members.
- In such case when a Board member is appointed by the Board of Directors or its Chairman to be committee, sub-committee and member of working groups of the Company, such Board member will receive additional monthly allowance of Baht 10,000 per meeting, Should there be more than 1 meeting per month, monthly allowance will remain at Bath 10,000 for the month.
- Audit Committee will receive monthly allowance at the same amount as that of Board of Directors’ remuneration.The allowance will also be paid for the month during which no meeting is held. (according to Cabinet’s approval on April 23, 2000)
4.2 Other person’s remuneration and monthly allowance
- Any other person acting as advisor for Chairman of the Board of Directors will receive monthly remuneration of Baht 20,000 and monthly allowance of Baht 30,000 per meeting.Should there be more than 1 meeting per month, monthly allowance will remain at Baht 30,000 for the month.
- Any other person acting as committee, sub-committee or member of any working groups will receive monthly allowance of Baht 10,000 per sitting but not exceeding Baht 30,000 per month.In such case where committee, sub-committee or working groups have appointed other committee in their place, such member of the appointed committee will receive monthly allowance at 50 % of that of the committee, sub-committee or working groups which were appointed by the Board. The monthly allowance will be Baht 5,000 per sitting but not exceeding Baht 15,000 per month.
4.3 Bonus : The Board of Directors will receive annual bonus at 0.5% of dividend payment, under rules and regulations set by the Board of Directors
5. Appointment of the Office of the Auditor General as the Company’s auditor for the fiscal year 2006 period, and the auditing fees has been set at Baht 2 million per year.
