The International Engineering Public Company Limited (IEC) has successfully held its extraordinary general meeting No 1/2015, which became the first time in many years that over thousands of shareholders participating. This reflected that the shareholders are confident with the company’s growth strategy. The meeting agreed with the company’s plan to raise capital through the rights offering (RO), at a ratio of 8 existing shares to 1 new ordinary share, at price of 0.022 baht / share. It is expected that 497 baht will be raised to further support business growth.
Dr Bhusana Premanode, Chairman, Group President and Member of Executive Committee of the International Engineering Public Company Limited (IEC), said that throughout the past several years, IEC has held many extraordinary general shareholders meetings but never received much support from the shareholders. Compared to this time, which was held on 14 December 2015 at the Queen Sirikit National Convention Centre, the EGM No 1/2015 was given overwhelming support by the shareholders, accounting for over 36.61%. Among the total 1042 attendants, 550 were the shareholders and 492 were representatives of the shareholders who were not able to attend the meeting by themselves.
The objective of this EGM was to ask the shareholders for permission to raise capital through the rights offering at a ratio of 8 existing shares to 1 new ordinary share, at price of 0.022 baht / share. The company expects to raise about 497.18 million baht, with some 45.2 million baht decrease in the total capital raised (On the EGM date, share price was closed at THB 0.04 / share). And the meeting agreed with the company’s request. The company has set the period for subscription of new shares and details are as follows:
Source: IEC investor relations
15/12/2015