Osotspa Announces to Postpone the 2020 Annual General Meeting and Approve the Interim Dividend Payment

The Company concerns for the health and safety of Shareholders, Directors, Executive and the Company’s staffs including all related parties. The Board of Directors’ Meeting no. 4/2020 held on 25 March 2020, considered and had the resolution as follows:

1. To cancel the 2020 AGM, originally dated on 29 April 2020, all the agenda item, and the list of shareholders entitled to attend the 2020 AGM (Record Date), originally dated 20 March 2020; to postpone the 2020 AGM indefinitely. The Company will inform the convening of 2020 AGM along with agenda items once COVID-19 situation is resolved.
2. To approve the interim dividend payment from the 2019 operational results of the Company as of 31 December 2019 which was audited by the Company’s auditor at Baht 0.65 per share in the total amount of Baht 1,952.44 million which is the same rate that the Company has informed to shareholders through the Stock Exchange of Thailand.

In this regard, the interim dividend payment at the rate of Baht 0.07 per share will be paid from the net profit of the subsidiary businesses promoted under the BOI which are currently exempted from tax and the dividend payment at the rate of Baht 0.58 per share will be paid from the net profit of businesses which are subject to 20 percent of corporate income tax in which the individual shareholders are entitled to claim tax credits at the rate of 20/80 of the dividend.

And to set new date of list of shareholders entitled for dividend payment (Record Date) to be on 8 April 2020 (originally 8 May 2020) and set new dividend payment date to be on 24 April 2020 (originally 28 May 2020).

The Board of Directors consider approving the interim dividend payment instead of the dividend payment for the year 2019 to reduce impact from the sudden and indefinite postponement of the 2020 AGM. With the interim dividend payment in the first half of the 6 months period of the year 2019 which approved by the Board of Directors’ Meeting no.8/2019 held on 14 August 2019 at the rate of Baht 0.35 per share, the total interim dividend payment will be amount of Baht 1.00 per share. Such interim dividend payments are paid from net profits of the 2019 operational results of the Company. Thus, the Board of Directors will not propose the dividend payment for the year 2019 performance to the 2020 AGM.

The Company apologizes for announcement of postponement of 2020 AGM. The Company will closely monitor COVID-19 situation in order to be prepared for the 2020 AGM and will further inform to shareholders.