12 September 1996
RENTS LAND FROM ITS SUBSIDIARY
Central Pattana Plc (CPN) informed that it has rented land from
Focus Holding Co.,Ltd., a wholly owned subsidiary of CPN. Details are as
follows:
1. Date of transaction : September 10, 1996
2. Details of acquired assets : CPN will sign a 30-year contract to
rent land from Focus Holding Co.,Ltd., This land will be the location of
CPN's new department store. This land is 6 rai, 40 square wah, located at
Praram 2 Rd., Bangkunthein, Bangkok.
3. Related partners: The company confirmed that it has no relationship
with the owner. This transaction therefore is not considered as
a connected transaction.
4. Total value of payment : Bt112 million
5. Criteria used to set payment : The value was determined from the
assessed price of nearby land.
6. General characteristics of transaction : The company confirmed
that the transaction is not an acquisition or disposition of listed
company assets according to the SET's rules.
7. Investment objective : To expand he company's project area
8. Expected benefits : To develop its department store business.