Disposal of Assets to Major Cineplex Lifestyle Property Fund
SET 23/2007
27 June 2007
Subject : Disposal of Assets to Major Cineplex Lifestyle Property Fund and the Use of Fund
Attn : Managing Director The Stock Exchange of Thailand
With reference to the notification to SET on June 12, 2007, Major Cineplex Group Public Company Limited subsidiaries have registered with Land Department the transferred the real properties and/or the assignment of leasehold right of land and/or the lease of the assets and/or sale of utilities of Major Cineplex Ratchayothin and Major Cineplex Rangsit to Major Cineplex Lifestyle Property Fund (the Fund) on June 27, 2007 in which the Securities and Exchange Commission has registered the Fund on June 26, 2007 with the fund size of THB 2,300 million in accordance with Section 124 of Securities and Exchange Act B.E. 2535. Total amount of disposition of the assets is THB 1,802.67 million. The net amount of the disposal assets after withholding tax is THB 1,740.73 million.
The proceeds have been used to repay bank s loan THB 970.37 million and invest in short-term investment in available for sell THB 750 million and for working capital THB 20.36 million.
Please be informed accordingly
Yours faithfully
_________________________
(Mr Chattaphum Khantiviriya)
Chief Financial Officer