Initiation of arbitration procedures against TOT:reduction of revenue sharing in prepaid and roaming
11 February 2011
Clarification of News or Information
With reference to the above-mentioned letter which Advanced Info Service Public
Company Limited (the "Company") clarifying on the letter of TOT Public Company
Limited ("TOT") demanding payment of additional revenue sharing, the Company
would like to inform that, on February 4, 2011, the Company sent a letter
disputing the demand payment of TOT and refusing to pay the claimed amount by
giving material reasons as having informed to the Stock Exchange of Thailand. In
addition, the Company, by the said, also requested TOT to cancel or revoke its
said demand payment letter within February 9, 2011 including immediately stop
any action which may cause further damage to the Company. Otherwise, the Company
shall deem a dispute with respect to the Cellular Mobile Phone Service
Agreement (the "Agreement") has been occurred and the Company is necessitated to
take this dispute to arbitration procedures according to the conditions of the
Agreement which has required the arbitration panel to settle the dispute.
Since TOT has not cancelled or revoked such letter within the specified period
(i.e. February 9, 2011); and, after consulting with our legal consultant, the
Company has submitted the dispute to the Arbitration Institute, Office of
Justice Courts as the case no. Black 8/2554 between the Company (as the
Claimant) and TOT (as the Respondent) today (February 11, 2011).
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