FURTHER CLARFICATION
07 January 1999
Re : Further Clarification
Reference is made to our previous report that Singapore Telecom Interna-
tional Pte. Ltd. (STI) has proposed to acquire the ordinary shares in
Advanced Info Service Plc. (ADVANC). The company would like to clarify as
follows :
1. The percentage of share holding in ADVANC of Shin Corporation Plc.
(SHIN) as follows :
Case Percentage of share holding in ADVANC
SHIN STI Minorities
1.SHIN sold ADVANC's share to
STI of 18 million shares 40.63 20.00 39.37
2.SHIN sold ADVANC's share to
STI of 14.3 million shares 42.00 18.63 39.37
2. After ADVANC has acquired ordinary shares of Shinawatra Paging Co.,
Ltd., ADVANC will hold 100% of total shares in Shinawatra Paging Co.,
Ltd.
3. The company would like to inform the details of Article 11 of the
Articles of Association of the company as follows :
Article 11 Except as otherwise provided in these Articles of Association,
ordinary shares of the Company are freely transferable without
restriction provided however that non-Thais are entitled to
hold not more than 40 per cent of the total issued ordinary
shares of the Company.
Non-Thais may acquire new shares which are in excess of the
limit prescribed in the first paragraph of this Article by
subscription of new shares Issued and offered by the Company
in their entirety to specific and/or institutional investors
pursuant to the so called private placement notification of
the Securities and Exchange Commission (as amended from time
to time) (including shares dividend or new shares issued to
the shareholders of the new shares acquired under this second
paragraph). However, the aggregate number of shares held by
non-Thais in such case and in the case of holding shares by
non-Thais under the first paragraph must be less than one half
of the total issued shares of the Company. This limit of less
than one half of the total issued shares of the Company shall
also apply to all subsequent transfers."