January 24, 2006
Subject:Clarification the utilization of IPO Funds
To: The President
The Stock Exchange of Thailand
As Pico (Thailand) Public Company Limited has made the Initial Public
Offering (IPO) for 20,000,000 shares at Baht 6.25 per share (Par Value
1 Baht) in April 2004 which net fund received after deduction of IPO
expenses for Baht 121,000,000.
We would like to report the utilization of funds from IPO during the
period from April 2004 to December 31, 2005 as follows:
Objective Actual Outstanding Plan Period
Estimation Spending Balance in future
1.Expansion in
related Business 36.3 - 36.3 Investment 2006 onwards
in related
Business
2.Working Capital 84.7 84.7 -
Total 121.0 84.7 36.3
Please be informed accordingly.
Yours sincerely,
-Signature-
Ms. Nitida Thamasoontra
Chief Finance Officer