DISPOSITION OF INTEREST IN MAKRO AUTO CARE CO., LTD.
08 May 2002
(Translation)
May 8, 2002
Subject: Disposition of interest in Makro Auto Care Co., Ltd.
To: The President
Stock Exchange of Thailand
The Board of Directors' Meeting of Siam Makro Public Company
Limited No. 4/2002 held on May 8, 2002 adopted the following resolution.
The meeting unanimously resolved to approve the Company to
enter into an agreement for the disposition of its entire interest
in Makro Auto Care Co., Ltd., a company engaging in automotive
services businesses, to R.B. Services Ltd., being an affiliated
company of the Shell Companies in Thailand. The sale price is agreed
at Baht 643 million but may be further adjusted upwards or downwards
pursuant to the value of net total assets as at completion of the
sale which is scheduled to take place on May 31, 2002. The sale of
Makro Auto Care Co., Ltd. is in line with both the Company's strategy
to focus on its core business of wholesale and the Purchaser's core
business.
The above mentioned transaction does not fall within the
rules relating to the Acquisition and Disposition of Assets of
Listed Companies and Connected Transactions as per the Notification
of the Stock Exchange of Thailand.
Please be informed accordingly.
Yours faithfully,
Siam Makro Public Company Limited
Signature
(Charoen Assawajarukasem)
SET Coordinator Manager