Shareholder Information

   
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Dividend Policy and Reduction of Capital

Period No. Dividend Rate
(THB/Unit)
No. Reduction of Capital Rate
(THB/Unit)
Total
(THB/Unit)
Year 2015 1-4 0.7400 - - 0.7400
Year 2016 5-8 0.9000 1-2 0.1247 1.0247
Year 2017 9-12 0.9100 3 0.0237 0.9337
Year 2018 13-16 0.9000 - - 0.9000
Year 2019 17-20 0.9000 - - 0.9000
Year 2020 21-24 0.9900 - - 0.9900
Year 2021 25-28 0.9500 - - 0.9500
Year 2022 29-32 0.9200 - - 0.9200
Quarter 1 Year 2023 33 0.2300 - - 0.2300
Quarter 2 Year 2023 34 0.2300 - - 0.2300
Quarter 3 Year 2023 - - 4 0.16000 0.16000
Quarter 4 Year 2023 - - 5 0.16000 0.16000
Total 1-34 7.6700 1-5 0.46840 8.1384

Reason of the Reduction of Capital:

1st - 3rd Capital reduction
The Fund had excess cash from advance rental payment amounting THB 816.51mn which the Fund received from Triple T Broadband Public Company Limited (“TTTBB”) at the Closing Date pursuant to the Initial Main Lease Agreement. The Management Company decreased the capital of the Fund THB 685.85mn in 2016 and THB 130.35mn in 2017 respectively. The capital reduction was made as predetermined and clearly described in the Fund Scheme.

The advance rent of THB 816.51mn is the rent for the last three months under the Amended and Restated Main Lease Agreement which will be paid to the Fund in 2038. Therefore, the above capital reduction may result in Unitholders receiving less dividends in the future since the advance 3-month rental was already paid in the form of capital reduction. In addition, in the event of a force majeure event, which prevents the Fund from leasing the Optical Fiber Cables to TTTBB and, as a result, the Amended and Restated Main Lease Agreement is terminated, the Fund shall still be liable and return the advance rent to TTTBB, provided that TTTBB has fulfilled all its obligations thereunder. In such an event, the Fund may not have sufficient funds to make such payment, in whole or in part, to TTTBB.

4th - 5th Capital reduction
As of 30 September 2023, and 31 December 2023, the Fund has accumulated loss at THB 8,681.65mn and THB 8,196.15mn, respectively, which was caused by the fund having losses from changes in fair value of investments was THB 12,200.04mn and THB 19,099.98mn. This new fair value reflected the resolution of the EGM #1/2023 on 23 August 2023, which resolved to cancel the Amended and Restated Rental Assurance Agreement and The Amended and Restated Marketing Services Agreement. The effect is to cancel and suspend payments according to both contracts from the date the unitholders' meeting approves them onwards. Therefore, the Fund is unable to pay dividends to unitholders for the 3rd and 4th quarters. This is in accordance with the criteria and dividend payment policy specified in the Fund's prospectus.

Incidentally, the Fund has cash from operations for the accounting period from 1 July 2023 to 30 September 2023 and 1 October 2023 to 31 December 2023 in the amount of THB 1,938.71mn and THB 1,485.53mn, respectively, since a loss on valuation of investments is non-cash expense. The management company, therefore, will distribute such cash to unitholders in the form of capital return of THB 1,280.00mn and THB 1,280.00mn, respectively.