Warrants
On 8 March 2010, the Company offered 48,680,463 units of warrants to the employees of the Company and the subsidiaries, which the Company holds not less than 75% of equity interest, as detailed below.
| Exercise right: | One warrant can be exercised to purchase one ordinary share at an exercise price of Baht 3 each | |
| Term: | 3 years from the issuance date | |
| Exercise period: | Every 20 March, June, September and December of each year for exercise period, commencing from 20 June 2010 and maturing on 7 March 2013 | |
| The movement of warrants were as follows: | ||
| Number of units (Thousand units) | ||
| 2013 | ||
| Warrants issued as at 8 March 2010 | 48,680 | |
| Less: | Cumulative number of exercised warrants - beginning of the period | (38,954) |
| Number of warrants exercised during the period | (9,707) | |
| Cumulative number of exercised warrants - end of period | (48,661) | |
| Balance of unexercised warrants | 19 | |
| Less: Number of warrants expired during the period | (19) | |
| Balance of warrants at the end of period | - | |
There was no outstanding warrants as at 31 December 2014
Warrants offered to employees (ESOP-W2) (Cancel)
On 28 April 2008, the Annual General Meeting of the Company's shareholders approved an issuance of 77,000,000 units of warrant to be offered to employees of the Company and the subsidiaries, which the Company holds not less than 75% of equity interest, according to the Employee Stock Option Plan (ESOP-W2) of the Company and its subsidiaries. However, on 24 April 2009, the Annual General Meeting of the Company's shareholders approved to cancel the issuance of these warrants.
Warrants offered to employees (ESOP-W1)
On 1 February 2006, the Company issued and offered 34 million units of warrants to purchase ordinary shares to the employees of the Company and its subsidiaries, as detailed below.
| Exercise ratio: | One warrant can be exercised to purchase one ordinary share at an exercise price of Baht 3.6 each |
| Term: | 3 years from the issuance date |
| Exercise date: | On the 20th of February, May, August and November, the first exercise date is on 20 February 2006 and the last date is on 2 February 2009 |
| Percentage of exercise: |
The 1st year, not more than 50% of allotted warrants The 2nd year, not more than 25% of allotted warrants The 3rd year, not more than 25% of allotted warrants |
The Company had adjusted the existing exercise price and exercise ratio according to the criteria and conditions indicated in the prospectus for the warrants and new ordinary shares to be reserved for warrants to purchase ordinary shares to the employees of the Company and its subsidiaries. The exercise price before adjustment was Baht 3.6 per share and the exercise ratio was 1 warrant to 1 ordinary share. The Company had adjusted these details to be an exercise price of Baht 3.578 per share and an exercise ratio of 1 warrant to 1.006 ordinary shares.
