26 Mar 2020
BAM has revised the plan for the 2020 Annual General Meeting of Shareholders and the interim dividend payment.

Bangkok Commercial Asset Management Plc. (BAM) has prepared to convene its annual general meeting of shareholders within four months after the end of its fiscal year as prescribed by law. However, at the onset of the COVID-19 pandemic, which has deepened and become more widespread, and considering that the Company has a large number of shareholders, it is difficult to find a suitable meeting venue that can accommodate the 1-2 meters seating separation in line with the Ministry of Public Health’s social distancing measures. Besides, the government has urged the private sector to avoid organizing any non-essential mass gathering activities to mitigate the risk of COVID-19 spreading. The Company itself is anxious about health and safety of all meeting participants, concerned parties and employees. Pursuant to the Notification of the Department of Business Development Re: Measures Addressing the Spread of COVID-19 Which may Affect the Convening of Meetings of Juristic Persons B.E. 2563, dated March 4, 2020, public limited companies, which are affected by the COVID-19 situation and are relatively unable to hold meetings or have to hold the meetings later than the period specified by law, are allowed to hold the meetings after such specified period and, after the meetings have been held, shall submit a letter giving reasons for such delay to the Registrar on a case by case basis.

Therefore, the Meeting of the Board of Directors of the Company No. 5/2020 on March 26, 2020 passed the following resolutions:

  1. Approving a revision to the plan for convening the 2020 Annual General Meeting of Shareholders (AGM), which will be postponed indefinitely until the situation has eased and it is deemed fit. The Board of Directors will determine the meeting date soonest possible and will so notify the shareholders in due course. The said postponement of the AGM will not have any material impact on the Company’s operation and will not affect the shareholders’ right to receive dividend.
  2. Approving an interim dividend payment from the 2019 operating performance according to the latest financial statements ended December 31, 2019, duly audited by the Company’s auditor, at a rate of Baht 1.05 per share with a total dividend payment of Baht 3,393,644,415 to the eligible shareholders whose names appear in the register book as at the Record Date of April 9, 2020, with the dividend payment scheduled to be made on April 24, 2020.

The Board of Directors has considered making an interim dividend payment instead of the annual dividend payment, which would otherwise be proposed to the AGM for approval, in a bid to reduce any potential impact on the shareholders due to the non-convening of the AGM. The Board of Directors will not propose any other dividend payment for 2019 and will further report such interim dividend payment to the AGM for acknowledgment.

The Company will closely keep abreast of the COVID-19 situation and ponder on any other suitable options for holding the AGM as prescribed by law soonest possible.

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