KTC Board of Directors approved the Change of Par Value from Baht 10 to 1 to allow Thais more access to KTC stocks.
Mr. Rathian Srimongkol, President and Chief Executive Officer of “KTC” or Krungthai Card Public Company Limited, reveals, “The Board of Directors’ Meeting of Krungthai Card Public Company Limited, which was held yesterday on 14 May 2018, has passed resolutions to the change of par value of the Company’s share from originally Baht 10 to 1 each,”
“In order to increase liquidity for individual investors to gain more access to stocks listed under the title “KTC,” due to lower shares per unit cost. Ordinary shares of the Company will further increase from 257,833,407 shares, with a par value of Baht 10 each to be 2,578,334,070, with a par value of Baht 1.”
“After the particular change of par value, the number of ordinary shares held by each shareholder will increase at the ratio of 1 existing ordinary shares, to 10 new ordinary shares without any change in shareholding proportion. The Company’s registered capital and paid-up capital shall remain the same as Baht 2,578,334,070.”
Additionally, the Board approved the amendment to Clause 4. of the Memorandum of Association of the Company with respect to the registered capital of the Company to be in line with the change of par value of the Company’s shares as follows:
Clause 4 Registered capital value of Baht 2,578,334,070 are to be divided into 2,578,334,070 shares with a par value of 1 (Baht) each, categorized into 2,578,334,070 ordinary shares and preferred shares.
“Moreover, the Board of Directors’ of Krungthai Card Public Company Limited “KTC” will set to have the No. 1/2018 meeting on 6 July 2018 at 09.00 hours at Grand Hall I”
“The Athenee Hotel Bangkok, for further considerations of approval, with a Record Date on which the shareholders have the right to attend the Extraordinary General Shareholders’ Meeting on 30 May 2018” Mr. Rathian concludes.
At any rate, on 14 May at 16.55 hrs., KTC’s stock price closed at Baht 380 with a trading volume of 3,641,748 shares and trading value of Baht 1,378,291,170.