13 September 1996
REPORTS ON RENTING LAND FROM SUBSIDIARY
Referring to Central Pattana Plc (CPN)'s report on its land lease
from its wholly owned subsidiary, Focus Holdings Co.,Ltd., as stated in
the letter as of September 11, 1996 that was filed with the SET, CPN
reported additional information as follows:
1. Details of acquired assets: CPN has leased land from Focus
Holding Co.,Ltd., CPN's subsidiary, and this land was owned by a third
person who has no relationship with the company. The transaction therfore
is not considered as a connected transaction. The land is located at
Praram 2 Rd., Bangkunthien, Bangkok and will be used as a CPN department
store.
2. Total payment: Total payment will be Bt112.80 million. The down
payment of amount Bt68,880,000 will be made on June 9, 1997. The second
payment of Bt9,760,000 will be made within September, 1997. The third
amount of Bt 34,160,000 will be paid in installments every 3 months
totalling 14 periods.
3. Calculation of acquired assets value : The company confirmed that
the acquired assets were not considered an assets acquisition of listed
company.