A T I PCO TIPCO ASPHALT PUBLIC COMPANY LIMITED

'50 tOCl1 tSO 14001 OHSAS 1I001

OMS0301$1119 EMso,ooe/"I OI OHSAS1.012124'

Bor. Hor. 049/2016

i11 November 2016

Attention : President The Stock Exchange of Thailand Re: Resolutions of the Board of Directors Meeting No. 6/2016 relating to connected transaction Attachment: Information Memorandum of Tipco Asphalt Public Company Limited Re: Connected Transaction

The Board of Directors of Tipco Asphalt Public Company Limited ("the Company") passed the following resolutions at the meeting No. 6/2016 held on th November 2016 :

1. Considered and approved the subscription of 1,243,334 new ordinary shares with par value of THB 100.00 per share at THB 181.00 per share (total value of THB 225,043,454), representing 25% shareholding in Thai Slurry Seal Co. Ltd. ("TSS"), a connected person of the Company (the "Transaction"). Details of the Transaction are as follows:

The Transaction is considered as asset acquisition transact ion as stated in the Notification of the Capital Market Supervision Board No. TorChor 20/2551 re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets and the Notification of the Board of Governors of the Securities Exchange of Thailand re: Disclosure of lnfonnation and Other Acts of Listed Company Concerning the Acquisition and Disposition of Assets, 2004 ("Notification of Acquisition and Disposal of Assets"). According to the Notification of Acquisition and Disposal of Assets, the Company has to

Office : Tipco Tower, 118/1 Rama 6 Ad., Samsen Nai,Phayathai, Bangkok 10400,Thailand. Tel:+66 (0) 2273-6000 Fax: +66 (0) 2273-6030,(0) 2271-1601 www.tipcoasphalt.com

Factory : 259 Moo 8 Soi Ard.12032,Mittrapap Ad.,Naklang, Soongnern District, Nakhon Ratchasima 30380 Tel:+66 (OJ 4433-5495-9 Fax: +66 (O) 4433-5495-9

: 271 Moo 15 Phitsanulok-Bangragum Rd., Bangragum, Phitsanulok 65140 Tel:+66 (0) 5537-1461-2 Fax:+66 (0) 5537-1461-2 Ext. 360

: 61 Moo 5 Soi Thaisi o, Suksawad Rd.,Bangchak,Phrapradaeng,Samulprakarn 10130 Tel:+66 (0) 2817-5111-5 Fax: +66 (0) 2817-5117

: 90 Moo 5 North Nongchoompol, Khaoyoy, Phetchaburi76140 Tel:+66 (0) 2273-6000 Ext.5502-4 Fax: +66 (OJ 2273-6000 Ext. 5501

T I PCO

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TIPCO ASPHALT PUBLIC COMPANY LIMITED

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calculate the highest transaction value by four methods and to consider the required action to be taken. From the four methods, the highest transaction value is 1.29% of the Company's total assets, calculated from total value of consideration method. Since the Transaction value is less 15% and there is no issuance of secmities in consideration , therefore, the Company does not need to take further action under the Notification of Acquisition and Disposal of Assets reporting requirement.

However, the Transaction is also considered as connected transaction, as stated in the Notification of the Capital Market Supervisory Board No. TorChor 21/2551 re: Related Parties Transaction and the Notification of the Board of Governors of the Securities Exchange of Thailand re: Disclosure of Infonnation and Other Acts of Listed Companies Concerning the Connected Transactions 2003 ("Notification of Connected Transactions"). According to the calculation of connected transaction value, the value of

the Transaction of THB 225,043,454 is 2.11 % of the Company's net tangible assets according to the Company's consolidated financial statements as of 30111 September 2016. The Transaction value is between 0.03% and 3% of the net tangible assets of the

Company. Therefore, the Company has duty to disclose the Board of Directors' approval of the Transaction and report the infonnation to the SET as required by the Notification of Co1mected Transactions together with the attached document.

Please kindly disseminate the above infonnation to the investors.

Sincerely,

('.) .()\rt? _..>I

Mr. Chaiwat Srivalwat Managing Director

Office : Tipco Tower, 118/1 Rama 6 Ad.,Samsen Nai,Phayathai,Bangkok 10400,Thailand. Tel:+66 (0) 2273-6000 Fax: +66 (0) 2273-6030, (0) 2271-1601www.tipcoasphalt.com

Factory : 259 Moo 8 SoiArd.12032, Mittrapap Rd.,Naklang. Soongnern District,Nakhon Ratchasima 30380 Tel:+66 (0) 4433 5495-9 Fax: +66 (0) 4433-5495·9

: 271 Moo 15 Phitsanulok Bangragum Rd.,Bangragum, Phitsanulok 65140 Tel:+66 (0) 5537-1461-2 Fax: +66 (0) 5537-1461-2 Ext. 360

: 61 Moo 5 SoiThaisilo, Suksawad Rd., Bangchak, Phrapradaeng, Samutprakarn 10130 Tel:+66 (0) 2817-5111-5 Fax: +66 (0) 2817-5117

: 90 Moo 5 North Nongchoompol, Khaoyoy,Phetchaburi 76140 Tel: +66 (0) 2273-6000 Ext. 5502-4 Fax:+66 (0) 2273 6000 Ext.5501

Tipco Asphalt pcl published this content on 07 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 November 2016 08:16:06 UTC.

Original documenthttp://www.tipco.co.th/upload/Resolutions_BOD_EngNov16.pdf

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