SCI Annual Report 2015

SCI Electric Public Company Limited
SCI ELECTRIC PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES
(FORMERLY KNOW AS “SCI ELECTRIC MANUFACTURER COMPANY LIMITED”)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE TEAR ENDED 31 DECEMBER 2015
The total number of authorised ordinary shares is 750 million shares (2014: 1.65 million shares) with a par value of Baht 1
per share (2014: Baht 100 per share). All issued shares are fully paid.
At the General Shareholders Meeting No. 1/2558 on 16 March 2015, the shareholders had a resolution to increase the share
capital from Baht 165,000,000 to Baht 562,500,000 by increase the registered share capital of 3,975,000 shares at par value of
Baht 100, totaling Baht 397,500,000 and called up the subscription of Baht 100 per share. The Company registered the increased
share capital with the Ministry of Commerce on 7 April 2015.
At the Extraordinary General Shareholders Meeting No. 1/2558 on 22 April 2015, the shareholders had the following resolutions:
- To devalue the par value of Baht 100 per share to Baht 1 per share, resulting to the registered and paid-up share
capital changed from 1,650,000 shares at par value of Baht 100 per share to 165,000,000 shares at par value of Baht 1 per share,
totaling Baht 165,000,000. The Company registered the change of par value with the Ministry of Commerce on 1 May 2015.
- To approve to increase the registered share capital from Baht 562,500,000 to Baht 750,000,000 by increase the
registered share capital of 187,500,000 shares at par value of Baht 1 to distribute to public.
During 5 October 2015 to 7 October 2015, the Company made a public offering of the 187.5 million shares at Baht 5.9 per
share; total consideration is amounting to Baht 1,106.3 million and received the consideration of increased share capital on 8
October 2015. All direct expenses related to the share offering amounting to approximately Baht 39.71 million. The Company
registered the increase of paid-up share capital with the Ministry of Commerce on 8 October 2015.
27. Legal Reserve
In Baht
Consolidated financial statements Separate financial statements
2015 2014 2015 2014
As at 1 January 816,000 816,000 816,000 816,000
Appropriation - the Company 22,684,000 - 22,684,000 -
Appropriation - Subsidiary 3,800,000 - - -
As at 31 December 27,300,000 816,000 23,500,000 816,000
Under the Public Limited Company Act., B.E. 2535, the Company is required to set aside as a legal reserve at least 5% of
its net profit after accumulated deficit brought forward (if any) until the reserve is not less than 10% of the registered capital.
The legal reserve is non-distributable.
The legal reserve of the Company was established in accordance with the provisions of the Thai Civil and Commercial
Code, which requires the appropriation as legal reserve of at least 5% of net income for the year after deduction of the deficit
brought forward (if any) until the reserve reaches 10% of the authorized share capital. This reserve is not available for dividend
distribution.
28. Dividend Payment
At the General Shareholders Meeting No. 1/2558 on 16 March 2015, the shareholders had a resolution to approve for
dividend payment from retained earnings as at 31 December 2014 to the shareholders of 1,650,000 shares at Baht 267.67 per
share, totaling of Baht 441,666,667. Such dividend paid to the shareholders during March and April 2015 and allocate for the
additional legal reserve amounting to Baht 15,684,000 from Baht 816,000, total legal reserve is amounting to Baht 16,500,000.
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