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2016 Annual General Meeting of Shareholders
25 April 2016at Lotus Room, Queen Sirikit National Convention Center
PMTA
2PM Thoresen Asia Holdings Public Company Limited
การประชุมใหญส่ามญัผูถ้อืหุน้ประจ าปีคร ัง้ที ่1/2558
28 เมษายน 2559ณ ศนูยป์ระชมุแหง่ชาตสิริกิติติ์
Voting Procedure
One share carries one vote.
To disapprove or to abstain from voting, please indicate your vote in the ballot
and raise your hand so our staff can collect your ballot. In agenda item 6 and
item 7, we will collect ballots from all shareholders.
Spoiled votes include filling the ballot in a manner that makes the voter's decision
incomprehensible. Example is in the case where both approval and disapproval
are marked, or where the ballots are crossed out without signature of voters, or
the ballots with unclear marks, or the blank ballots without any marks.
3PM Thoresen Asia Holdings Public Company Limited
การประชุมใหญส่ามญัผูถ้อืหุน้ประจ าปีคร ัง้ที ่1/2558
28 เมษายน 2559ณ ศนูยป์ระชมุแหง่ชาตสิริกิติติ์
Agenda 1 To certify minutes of the Annual General Meeting of Shareholders No.2/2015 held on 13 March 2015
Agenda 2 To acknowledge results of operations of the Company for the 2015financial year, ended 31 December 2015
Agenda 3 To consider and approve the Company’s financial statements forthe financial year ended 31 December 2015, including auditor's report
Agenda 4 To consider and approve the payment of cash dividends for the financialyear ended 31 December 2015 and the appropriation of a legal reserve
Agenda 5 To consider and approve the appointment of auditors for the financialperiod ended 31 December 2016 and the determination of audit fees
Agenda 6 To consider and approve the appointment of directors to replacethose who are retiring by rotation
Agenda 7 To consider and approve the appointment of one additional director
Agenda 8 To consider and approve the directors and sub-committee’s remuneration
Agenda 9 To consider other business (if any)
Meeting Agenda
4PM Thoresen Asia Holdings Public Company Limited
To certify minutes of the Annual General Meeting of Shareholders No. 2/2015 held on 13 March 2015
The resolution of this agenda must be approved by the majority vote
of the shareholders who attend the meeting and cast their votes
Agenda 1
5PM Thoresen Asia Holdings Public Company Limited
To acknowledge results of operations of the Company for the 2015 financial year ended 31 December 2015
The agenda is for acknowledgement by shareholders.
No voting is required.
Agenda 2
6PM Thoresen Asia Holdings Public Company Limited
Agenda 2PMTA’s Shareholding Structure
Baconco is located in Southern Vietnam at the PhuMy I Industrial Park, Ba RiaVung Tau Area, which is 70 kilometers from Ho Chi Min City. Locating next to the ThiVai where Southern Vietnam’s only deep sea port is located, and is one of Vietnam’s largest export/import centers. This creates a big demand for quality storage of goods or raw materials and goods for export.
PMTA
Baconco PMTS
100% 100%
Domiciled in Singapore, PMTS mainly supports Baconco in its procurement of main imported raw materials
7PM Thoresen Asia Holdings Public Company Limited
Agenda 2 Leading market position in the Vietnam’s fertilizer market
Market Share
Baconco is the Biggest Private Fertilizer Producer in Vietnam by Capacity
700
500450
360 350300 300
200150 150
A B Baconco C D E F G H I
Depicts Vietnam’s state owned enterpriseUnits: Thousand metric tons
Source: Fertilizer Market Overview 2013 by InterControl, PMTA filings
8PM Thoresen Asia Holdings Public Company Limited
Agenda 2Comprehensive Fertilizer Production Process
Finished Products
Baconco’s chemical, physical, and biological processes
Raw Material(Nitrogen, phosphate and potash nutrients as main raw material)
Urea Super Phosphate (USP)
CompactionGranulation
Bulk Blending
Bio Stimulant
Finished Products(Over 95 NPK formulas and customized formulas to fulfill customers’ needs)
Total installed capacity of 450,000 metric ton per year
9PM Thoresen Asia Holdings Public Company Limited
Agenda 2Ability to Speedily Launch and Develop New Innovated Products
AVS is an exclusive bio stimulant coating technology of Baconco.
NPK fertilizer with New AVS coating help:
• Stimulate crops to absorb nutrients by the best way.
• Crops will be increased and better resist to insects and fungi.
• Increase yield and quality of agriculture products.
• Reduce cost of Fertilizer and pesticides.
10PM Thoresen Asia Holdings Public Company Limited
Agenda 2Successful Presence in the World Market
Export Destination in 2014/2015
25
42
FY14 FY15
South East Asia
53
36
FY14 FY15
Africa
1.52.1
FY14 FY15
MEA
115 117
FY14 FY15
Vietnam
Unit: K Tons
11PM Thoresen Asia Holdings Public Company Limited
Agenda 2Growing of Factory Area for Leasing
Occupancy Rate of Factory Area for Leasing
83%
100% 100% 100% 100% 100% 100% 100%96%
100%
1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 3Q/15 4Q/15 FY14 FY15
• Expansion of factory area for leasing from 31,000 m2 to 42,300 m2 in 2015 with additional 8,200 m2
open in March 2016 while occupancy rate achieved 100% with rising demand from current customers
Factory Area for Leasing
31,000
42,300
50,500
-
10,000
20,000
30,000
40,000
50,000
60,000
Before IPO 2015 2016
m2
12PM Thoresen Asia Holdings Public Company Limited
Agenda 2 Looking to expand sales volume
• Fertilizer sales revenue rose 6% YoY
• Utilization rates of the factory area for leasing remain high at 100% generating income of Baht 49.1 million in 2015
• Gross margin slightly adjust to 24% from 26% in 2014 due to higher raw material costs.
• Operating cost increased 14 % YoY to Baht 236 million in 2015 as the new capacity addition was still not fully utilized
• EBITDA margin slightly reduced from 12% to 11% in 2015
• Depreciation significantly grew 40% YoY to Baht 57.2 million in 2015, from the new granulation unit installed.
• Net Profit of Baht 233 million
283233
FY14 FY15
375 349
FY14 FY15
817 786
FY14 FY15
3,0883,259
FY14 FY15
Sales Revenues(M. THB)
Fin
anci
al
Pe
rfo
rman
ceGross Profit
(M. THB)
EBITDA(M. THB)
Net Profits(M. THB)
+6% YoY -18% YoY-7% YoY-4% YoY
Income Statement
in M illion Baht FY14 FY15 % YoY
Sales Revenue 3,088.0 3,258.5 6%
Raw Material Costs (2,270.8) (2,472.3) 9%
Gross Profit 817.2 786.2 -4%
Service & Other Income 36.6 52.4 43%
Operating Cost (207.3) (236.0) 14%
Cost of providing services (5.4) (10.5) 95%
SG&A (266.1) (243.6) -8%
EBITDA 375.0 348.6 -7%
Depreciation & Amortization (40.8) (57.2) 40%
EBIT 334.2 291.4 -13%
Financial Cost (0.9) (6.3) 593%
Gain/(Loss) from Foreign Exchange 13.3 (2.4) -118%
Profit before income tax 346.6 282.6 -18%
Income Tax Expense (63.6) (49.6) -22%
Net Profit 283.0 233.0 -18%
Net Profit/(loss) attributable
To Non-controlling interest - 58.1
To TTA 283.0 174.9
13PM Thoresen Asia Holdings Public Company Limited
Greater (and more efficient) use of fertilizers (and other nutrients
sources)
Agenda 2 Fertilizer Outlook
According to IFA,
• The 2015/16 campaign is impacted by low international agricultural commodity prices and by weakening economic activity in emerging economies.
• 2016 global demand of fertilizer is forecasted to grow 1.9% YoY
• Major changes in volume are expected in South Asia, East Asia and North America
• Increasing demand for livestock products
• Competing demand for feedstock for biofuels/bioenergy
Increase in agricultural production Increase yield and cropping
intensity
World Cereal Production and Utilization (Mt)
Global Fertilizer Demand (Mt Nutrients)
14PM Thoresen Asia Holdings Public Company Limited
Agenda 2PMTA’s Strategy
• To be the market leader and reference for the highest quality crop care solutions and provider of high standard NPK Fertilizer, professional logistic and warehousing services.
• Keep strictly to only high premium quality production.
• Develop new tailor made products to give farmers higher yield per hectar.
• Double sales of quality NPK on Vietnamese market within 3 to 4 years.
• Increase exports to new markets having different seasons than in s. e. Asia , giving better utilization of our production units.
• Open offices in key export markets.
• Continue to expand and build more warehouses for leasing out.
15PM Thoresen Asia Holdings Public Company Limited
To consider and approve the Company’s financial statements for the financial year ended 31 December 2015, including the auditor’s report
The resolution of this agenda must be approved by the majority vote
of the shareholders who attend the meeting and cast their votes
Agenda 3
16PM Thoresen Asia Holdings Public Company Limited
Agenda 3Consolidated Financial Statements : Financial Position
Unit : million Baht
As of 31 Dec. 2015 As of 31 Dec. 2014
1. Total Assets 1,962 1,613
2. Total Liabilities 423 449
3. Total Equity 1,538 1,164
4. Total Liabilities and Equities 1,962 1,613
17PM Thoresen Asia Holdings Public Company Limited
Agenda 3Consolidated Financial Statements : Statement of Income
Unit : million Baht
For the year ended31 Dec 2015
For the three-month period ended31 Dec 2014
1. Total revenue 3,308 599
2. Total cost (2,774) (487)
3. Gross profit 534 111
4. Other operating income 3 12
5. Selling and Administrative expenses (248) (53)
6. Operating profits (losses) 289 71
7. Finance costs (6) (1)
8. Profits before income tax expenses 283 70
9. Income tax expenses (50) (15)
10. Net profits (losses) for the year/period 233 55
11. Earnings per share (in THB) 2.36 0.59
18PM Thoresen Asia Holdings Public Company Limited
Agenda 3Consolidated Financial Statements : Statement of Cash Flows
Unit : million Baht
For the year ended 31 Dec 2015
For the three-month period ended 31 Dec 2014
1. Cash and cash equivalents as at 1 January/1 October 260 522
2. Net cash generated from (used in) operating activities 205 (129)
3. Net cash generated from (used in) investing activities (167) (9)
4. Net cash generated from (used in) financing activities (1) (123)
5.Effect of exchange rate changes on balances held in foreign currencies
0 (1)
6. Cash and cash equivalents as at 31 December 297 260
19PM Thoresen Asia Holdings Public Company Limited
Agenda 3Agenda for Approval
To approve the Company’s financial statements for the
financial year ended 31 December 2015, including the
auditor’s report
Voting procedure : The resolution of this agenda must be approved by the majority vote of the shareholders who attend the meeting and cast their votes.
20PM Thoresen Asia Holdings Public Company Limited
To consider and approve the payment of cash dividends for the financial year ended 31 December 2015 and
the appropriation of a legal reserve
The resolution of this agenda must be approved by the majority vote
of the shareholders who attend the meeting and cast their votes
Agenda 4
21PM Thoresen Asia Holdings Public Company Limited
Agenda 4 - To consider and approve the payment of cash dividends for the financial year ended 31 December 2015 and the appropriation of a legal reserve
A) Legal Reserve
According to the Company’s separate financial statements for the year ended 31December 2015, it had the net profits at the amount of Baht 118.6 million;therefore, the Company set aside additional legal reserves as required by laws inan amount of Baht 5,932,000
B) Dividend Payments
The Company has declared a dividend payment for the year ended 31 December2015 in the form of cash dividend of Baht 1.12 per share.
Key Dates
XD 28 March 2016
Record date 30 March 2016
Share register book closing date 31 March 2016
Cash dividend payment date 19 May 2016
22PM Thoresen Asia Holdings Public Company Limited
Dividend Payments detail
Agenda 4 - To consider and approve the payment of cash dividends for the financial
year ended 31 December 2015 and the appropriation of a legal reserve
DescriptionFor the year ended31 December 2015
1. Net profits (losses) per consolidated financial statements Baht 232,990,542
Add back (less) unrealised foreign exchange losses (gains) Baht (6,860,087)
Net profits (losses) for dividend payment calculation in accordance with policy
Baht 226,130,455
2. Number of paid-up shares Shares 101,200,000
3. Dividend payment per share Baht 1.12
4. Total dividends paid (entire year) Baht 113,344,000
5. Dividend payout ratio Approximately 50.1%
23PM Thoresen Asia Holdings Public Company Limited
Agenda 4Agenda for Approval
To approve the payment of cash dividends for the financial
year ended 31 December 2015 an the appropriation of
a legal reserve
Voting procedure : The resolution of this agenda must be approved by the majority vote of the shareholders who attend the meeting and cast their votes
24PM Thoresen Asia Holdings Public Company Limited
To consider and approve the appointment of auditors for the financial period ended 31 December 2016 and
the determination of audit fees
The resolution of this agenda must be approved by the majority vote
of the shareholders who attend the meeting and cast their votes
Agenda 5
25PM Thoresen Asia Holdings Public Company Limited
Agenda 5 - To consider and approve the appointment of auditors for the financial
period ended 31 December 2016 and the determination of audit fees
To appoint auditors from KPMG Phoomchai Audit Ltd. for the 2016 financialyear ended 31 December 2016
Any one of them will be authorized to conduct the audit and render an opinion on the financialstatements of the Company, both on a consolidated and non-consolidated basis.
KPMG is also proposed to be an auditor of significant subsidiaries of the Company in overseas forthe financial year 2016 ended 31 December 2016 e.g. Baconco Co., Ltd.
The proposed auditors have no relationship or any interest in the Company, subsidiary companies,management, major shareholders, or other related persons.
1. Mr. Bunthit Tangpakorn CPA No. 8509
Same auditors aslast financial year
2. Mr. Veerachai Ratanajratkul CPA No. 4323
3. Mrs. Siripen Sukcharoenyingyong CPA No. 3636
4. Ms. Pornthip Rimdusit CPA No. 5565
26PM Thoresen Asia Holdings Public Company Limited
Agenda 5 - To consider and approve the appointment of auditors for the financial
period ended 31 December 2016 and the determination of audit fees
Comparison of Audit Fees for Consideration
FY 2016( 1 Jan - 31 Dec. 2016)
FY 2015( 1 Jan - 31 Dec. 2015)
% of Increase /1
Audit fees Baht 1,809,135 Baht 1,764,000 2.56
Non-audit fee paid to the nominated auditors and their firms
None None -
Note:
/1The audit fees for the financial period ended 31 December 2016 is Baht 1,809,135 which increased by 2.56 per cent from the previous year because the auditor has more scope and volume of audit work due to the Company’s business expansion.
27PM Thoresen Asia Holdings Public Company Limited
Agenda 5Agenda for Approval
To approve the appointment of auditors for the financial
period ended 31 December 2016 and the determination of
audit fees
Voting procedure : The resolution of this agenda must be approved by the majority vote of the shareholders who attend the meeting and cast their votes
28PM Thoresen Asia Holdings Public Company Limited
To consider and approve the appointment to replace those who are retiring by rotation
Agenda 6
29PM Thoresen Asia Holdings Public Company Limited
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
Directors who are retiring by rotationNomination of directors to replace those who are retiring by rotation
1. Mr. Sigmund Stromme Being proposed for re-election as director for another term
2. Mr. Somboonkiat Kasemsuwan Being proposed for re-election as director for another term
3. Mr. Arild Haugan Mr. Rapee Moungnont(Being proposed to replace Mr. Arild Haugan)
Note: The appointment will be effective from the date of the 2016 AGM.
30PM Thoresen Asia Holdings Public Company Limited
Mr. Sigmund Stromme (age 60)
Position Director/Member of Executive Committee/ Member of Nomination and Remuneration Committee/ Managing Director
Nationality Norwegian
Education/Training/Certification
• Master in Computer Science Finance/Administration, EDB Hoeyskolen, Norway
• Director Certification Program (DCP), Thai Institute of Directors Association (IOD), Class 182/2013
Professional Experience
Listed Company 2015 – Present Director/Member of Executive Committee/ Member of Nomination and Remuneration Committee/ Managing Director, PM Thoresen Asia Holdings Plc.
2015 – Present Executive Vice President – Shipping & Logistics, Thoresen Thai Agencies Plc.
Non – Listed Company 2015 – Present Director, Thoresen Shipping Singapore Pte. Ltd.
2015 – Present Director, Fearnleys (Thailand) Ltd.
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
31PM Thoresen Asia Holdings Public Company Limited
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
Mr. Sigmund Stromme (age 60)
Professional Experience
2015 - Present Director, Gulf Agency Company ( Thailand) Co., Ltd.
2015 – Present Director, GAC Thoresen Logistics Ltd.
2015 – Present Director, Thoresen Shipping and Logistics Ltd.
2015 – Present Director, Petrolift Inc.
2014 - Present Director, Thoresen-Vinama Agencies Co., Ltd.
2013 - Present Director, Sharjah Ports Services LLC.
2013 – 2014 Director, PM Thoresen Asia Holdings Ltd.
2013 – Present Director, PM Thoresen Asia (Singapore) Pte. Ltd.
2013 – Present Director, Thoresen Shipping FZE
2010 – Present Director, Baria Joint Stock Company of Services for Import Export
of Agro-Forestry Products and Fertilizers (“Baria Serece”)
2012 – Present Chairman, Thoresen-Vinama Logistics Co., Ltd.
2009 – Present Chairman, Baconco Co., Ltd.
2003 – Present Director, Thoresen (Indochina) S.A.
2000 – Present Chairman, The NORDIC Chamber of Commerce in HCMC, Vietnam
32PM Thoresen Asia Holdings Public Company Limited
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
Mr. Sigmund Stromme (age 60)
Professional Experience
Non – Listed Company 2015 – Present Director, Thoresen Shipping Singapore Pte. Ltd.
2015 – Present Director, Fearnleys (Thailand) Ltd.
2015 – Present Director, Gulf Agency Company ( Thailand) Co., Ltd.
2015 – Present Director, GAC Thoresen Logistics Ltd.
2015 – Present Director, Thoresen Shipping and Logistics Ltd.
2015 – Present Director, Petrolift Inc.
2014 - Present Director, Thoresen-Vinama Agencies Co., Ltd.
2013 - Present Director, Sharjah Ports Services LLC.
Nominated position Director
No. of years being the Company's director
2 Years
Meeting attendance for year 2015 Board of Directors 6/6, Executive Committee 1/3 and Nomination
and Remuneration Committee 1/1
This nominated person does not hold any position as director or management in other businesses, which might have a conflict of interest with the Company.
33PM Thoresen Asia Holdings Public Company Limited
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
Mr. Somboonkiat Kasemsuwan (age 71)
Position Independent Director/Chairman of Audit Committee/Member of Nomination and Remuneration Committee
Nationality Thai
Education/Training/Certification
• B.S. Degree in Electrical Engineering, North Carolina State University, USA
• Professional Degree in Electrical Engineering, North Carolina State University, USA
• Directors Certification Program (DCP), Thai Institute of Directors Association (IOD), Class 96/2007
Professional Experience
Listed Company 2015 – Present Independent Director/Chairman of Audit Committee/Member of Nomination and Remuneration Committee, PM Thoresen Asia Holdings Plc.
2014 – Present Chairman, Advance Finance Plc.
34PM Thoresen Asia Holdings Public Company Limited
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
Mr. Somboonkiat Kasemsuwan (age 71)
Professional Experience
Non – Listed Company 2013 - 2014 Chairman of Audit Committee, PM Thoresen Asia Holdings Co.,
Ltd.
2012- Present Chairman, Mohmee Co., Ltd.
2006 – 2011 Vice Chairman, The Transport Co., Ltd.
Nominated position Independent Director
No. of years being the Company's director
2 Years
Meeting attendance for year 2015 Board of Directors 5/6, Audit Committee 3/4 and Nomination and
Remuneration Committee 1/1
This nominated person does not hold any position as director or management in other businesses, which might have a conflict of interest with the Company.
35PM Thoresen Asia Holdings Public Company Limited
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
Mr. Rapee Moungnont (age 51)
Position Independent Director
Nationality Thai
Education/Training/Certification
• MBA, Indiana University, South Bend, USA.• Bachelor of Accounting, Thammasat University• Certified Management Consultant (CMC),
Institute of Management Consultants Association of Thailand (IMCT)
• Capital market Academy Leadership Program (#1), Capital Market Academy• Director Certification Program (DCP), Thai Institute of Directors (IOD), Class
80/2006• Economic and Fiscal Management, King Prajadhipok's Institute• Financial Executive Development Program - FINEX 15, The Thai Institute of
Banking and Finance Association• ICO’s International Executive Training Program in Development Banking
Madrid # 1
Professional Experience
Non – Listed Company 2010 – present Director, Rajamangala University of Technology RattanakosinCollege of Innovation Management (RCIM)
2009 Director & Acting President, Thai Credit Guarantee Corporation (TCG)
36PM Thoresen Asia Holdings Public Company Limited
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
Mr. Rapee Moungnont (age 51)
Professional Experience
Non – Listed Company 2005 – 2009 Audit Committee, Thai Credit Guarantee Corporation (TCG)
2005 – 2009 President of The Employee Welfare Committee , Thai Credit
Guarantee Corporation (TCG)
2008 President, Thailand Privilege Card Co., Ltd.
2005 – 2008 Director & Acting President , Thailand Privilege Card Co., Ltd.
2005 – 2008 Director & Executive Committee, Thailand Privilege Card Co., Ltd.
Executive Committee, The Institution of Management
Consultants Association of Thailand (IMCT)
2005 Deputy Director General, The Office of SMEs Promotion (OSMEP)
(responsibility to venture capital & OTOP)
2004 Executive Vice President, Small and Medium Enterprise
Development Bank of Thailand (SME BANK)
2002 – 2003 Vice President of Venture Capital 2 Department, Small and
Medium Enterprise Development Bank of Thailand (SME BANK)
2000 – present Guest Speaker, Thammasat University ,Chulalongkorn University,
National Institute of Development Administration (NIDA), King Mongkut’s University of Chulalongkorn University, Ramkhamhaeng University, Mahidol University and BuraphaUniversity
37PM Thoresen Asia Holdings Public Company Limited
Agenda 6 - To consider and approve the appointment to replace those who are retiring by rotation
Mr. Rapee Moungnont (age 51)
Nominated position Independent Director
No. of years being the Company's director
None
Meeting attendance for year 2015 None
This nominated person does not hold any position as director or management in other businesses, which might have a conflict of interest with the Company.
38PM Thoresen Asia Holdings Public Company Limited
To consider and approve the appointment of one additional director
Agenda 7
39PM Thoresen Asia Holdings Public Company Limited
Agenda 7 - To consider and approve the appointment of one additional director
Ms. Suvimol Mahagitsiri (age 70)
Position Director
Nationality Thai
Education/Training/Certification
• B.A. in Business Administration, Grossmont Junior College
• B.A. in Political Science, Ramkhamhaeng University• Director Accreditation Program (DAP 26/2004),
Thai Institution of Directors Association (IOD)• Role of the Chairman Program (RCP 16/2007),
Thai Institution of Directors Association (IOD)
Professional Experience
Listed Company 1983 – Present Vice Chairman, Thai Film Industries Plc.
Non – Listed Company 2002 – Present Vice Chairman, Lakewood Land Co., Ltd.
2002 – Present Vice Chairman, Lakewood Country Club Co., Ltd.
2002 – Present Vice Chairman, Lakewood Kitchen Co., Ltd.
1992 – Present Vice Chairman, PM Group Co., Ltd.
1989 – Present Vice Chairman, Quality Coffee Products Co., Ltd.
40PM Thoresen Asia Holdings Public Company Limited
Agenda 7 - To consider and approve the appointment of one additional director
Ms. Suvimol Mahagitsiri (age 70)
Nominated position Director
No. of years being the Company's director
None
Meeting attendance for year 2015 None
This nominated person does not hold any position as director or management in other businesses, which might have a conflict of interest with the Company.
41PM Thoresen Asia Holdings Public Company Limited
To consider and approve the directors and sub-committee’s remuneration
The resolution of this agenda must be approved by not less than two-thirds
of the total numbers of votes of shareholders attending the meeting
Agenda 8
42PM Thoresen Asia Holdings Public Company Limited
Agenda 8 - To consider and approve the directors and sub-committee’s remuneration
The Board of Directors is of an opinion to propose the shareholders to approve the following:
• The remunerations for directors and members of sub-committees for the 2016 year at the total amount of not exceeding Baht 5 (five) million; and
• To authorize the Board of Directors to allocate the remunerations to directors and members of sub-committees as deem appropriate.
The Board of Directors has considered that such remuneration is in line with the market and industry standard.
43PM Thoresen Asia Holdings Public Company Limited
Agenda 8Agenda for Approval
To approve the directors and sub-committee’s
remuneration
Voting procedure : The resolution of this agenda must be approved by not less than two-thirds of the total number of votes of shareholders attending the meeting
44PM Thoresen Asia Holdings Public Company Limited
To consider other business (if any)
Agenda 9