News Detail

Date/Time
06 Mar 2018 13:41:00
Headline
Notification of the judgment of the Supreme Court and request for removal of "H" sign
Symbol
BANPU
Source
BANPU
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                BP.0161/071
                                6 March 2018
-Translation-
Subject:    Notification of the judgment of the Supreme Court and request for 
removal of "H" sign
To:    President of the Stock Exchange of Thailand
Reference:    Company's letter no. Bor.Por. 0161/070 dated 6 March 2018
Reference is made to a summon issued by the Civil Court to Banpu Public Company 
Limited for attendance scheduled for 6 March 2018 at 9.00 a.m. for reading the
judgment of the Supreme Court in the civil case that Mr. Siva Nganthavee and his
group companies, as the Plaintiffs, sued the Company, its subsidiaries (i.e.
Banpu Power Public Company Limited and Banpu International Limited) and
executives as the Defendants, claiming compensation for damages arising out of
the wrongful act for the purpose of gaining information of coal mine concession
and feasibility study reports of the lignite fired power plant project in
Hongsa, Lao PDR ("Hongsa Project").

Today, the Civil Court read to the parties the judgment of the Supreme Court 
with the following details:
1.    In respect of the claim that the Defendants entered into the Joint 
Development Agreement to acquire the information without true intention to
develop the Hongsa Project, the Court considered that the Defendants acted in
good faith in entering into the Agreement with its true intention to develop the
 Hongsa Project, but not to acquire the information as alleged.
2.    In respect of the claim that the Defendants terminated a contract with a 
contractor to delay the Hongsa Project to result in the Lao Government
terminating the concession agreements with the Plaintiffs, the Court considered
that the Defendants conducted in good faith for the benefit of the Hongsa
Project, and the Lao Government did not adopt the delay from the termination of
the contractor as a cause of termination of the concession agreements with the
Plaintiffs.
3.    In respect of the claim that the Defendants induced the Lao Government to 
terminate the concession agreements with the Plaintiffs, the Court considered
that the Defendants was in good faith and did not do so.  The termination of the
concession agreements was the pure decision of the Lao Government for the
benefit of its people.
4.    In respect of the claim that the Defendants used the project information of 
the Plaintiffs, the Court considered that the Defendants utilized the valuable
information of the Plaintiffs and therefore ordered  the payment to the
Plaintiffs the sum of Baht 1,500 million plus interest at the rate of  7.50%
percent per annum calculated from July 2007.



.

In this connection, the Company, Banpu Power Public Company Limited and Banpu 
International Limited will jointly and equally take the responsibility for the
compensation according to the final judgment.

The Company hereby confirms that it, its subsidiaries and executives have always
operated businesses in good faith with full regard for the best interests of
the shareholders and the public. With due respect to the Court's judgment, the
Company will comply with the judgment by making payment of the judgment award in
full within the period stipulated by the Court. The payment would not have any
impact on the operation of the Company's business.

Given that the outcome of the aforementioned legal proceedings becomes known, 
the Company would like to request the Stock Exchange of Thailand to remove the
"H" sign and allow the continuation of the normal trading of the Company's
shares starting from the afternoon trading session of 6 March 2018 onward.


Your kind consideration of this matter would be highly appreciated

Sincerely yours,
                              -signature-
                               (Mrs. Somruedee  Chaimongkol)
                             Chief Executive Officer
______________________________________________________________________
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