News Detail

Date/Time
20 Aug 2020 17:13:00
Headline
Notification of Resolution of the Extraordinary General Meeting No.1/2020 of MFC Patong Heritage Property Fund (M-PAT)
Symbol
M-PAT
Source
M-PAT
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To:    The President
    The Stock Exchange of Thailand

Re :     Ref : MFC PT. 69/2020 Notification of Resolution of the Extraordinary 
General Meeting No.1/2020 of MFC Patong Heritage Property Fund (M-PAT)

Dear Sir,    

    Reference is made to that MFC Asset Management PCL. ("Company") as the 
Management Company of MFC Patong Heritage Property Fund (M-PAT) ("Fund"), held
the Extraordinary General Meeting of M-PAT No.1/2020 on August 20, 2020 at 10.00
a.m. at MFC Asset Management PCL. Office, Room 2306-2307, 23rd floor, Column
Tower located at 199 Ratchadapisek Road, Klongtoey, Bangkok 10110.
    At the time when the Extraordinary General Meeting of M-PAT No.1/2020 started, 
there are unitholders attended by himself and proxy, totaling 69 persons,
holding units in the number of 58,271,386 units, equivalent to 55.4966 Percent
of total units sold (105,000,000 units). The attending unitholders resolved the
issues in the meeting's agenda as follows:

Agenda 1    To acknowledge information of the 2020 Annual General Meeting of 
Unitholders of MFC Patong Heritage Property Fund (M-PAT)

Resolution:     Acknowledged the 2020 Annual General Meeting minutes of Unitholders
 of MFC Patong Heritage Property Fund (M-PAT)

Agenda 2    To consider and approve the exemption of rental fees and default 
interest under the Lease Agreement of MFC Patong Heritage Property Fund (M-PAT)
due to the outbreak of COVID-19

Resolution:     The Meeting approved the exemption of rental fees and default 
interest under the Lease Agreement of MFC Patong Heritage Property Fund (M-PAT)
due to the outbreak of COVID-19 as follows:
(1)    To exempt variable rental fees for January 2020 in the amount of Baht 
283,404 and default interest, or actual cost; and
(2)    To exempt fixed rental fees from February to August 2020 in the amount of 
Baht 5,776,400 and default interest, or actual cost.
    by the majority vote of the total number of units of the total unitholders who 
attended the Meeting and eligible to vote, consisting of the following:

Resolutions    Number of Votes    Representing
Approved    32,088,867    73.4380
Disapproved    10,172,500    23.2806
Abstained    1,433,800    3.2814
Total    43,695,167    100.0000

Remarks
1.    For this agenda, there were additional 11 unitholders holding together 
172,591 units present from the previous agenda.
2.    In counting the votes under this agenda, the Company will not count the 
number of units held by the unitholders having an interest in this agenda which
are Mrs. Koranun Asvasirayothin and its related person, holding units in the
number of 14,750,000 units, calculated as 33.76 percent of the total number of
units of the unitholders attending the meeting and having the right to vote in
this agenda.

Agenda 3     To approve the new lease proposal for Patong Heritage Hotel Project

Resolution:     The Meeting approved the new lease proposal for Patong Heritage 
Hotel Project, by the majority vote of the total number of units of the total
unitholders who attended the Meeting and eligible to vote, consisting of the
following:

Resolutions    Number of Votes    Representing
Approved    41,720,677    95.4799
Disapproved    510,000    1.1672
Abstained    1,465,100    3.3530
Total    43,695,777    100.0000

Remarks
1.    For this agenda, there were additional 16 unitholders holding together 610 
units present from the previous agenda.
2.    In counting the votes under this agenda, the Management Company will not 
count the number of units held by the unitholders having an interest in this
agenda which are Mrs. Koranun Asvasirayothin and its related person, holding
units in the number of 14,750,000 units, calculated as 33.76 percent of the
total number of units of the unitholders attending the meeting and having the
right to vote in this agenda.

To proceed with the meeting's resolution, the unitholders' meeting approve the 
Management Company to perform the followings:
(a)    To negotiate, prepare, and execute a lease agreement and/or other agreement 
and/or any related document and to do any other necessary acts as related the
aforementioned actions in accordance to unitholder's approval.
(b)    In case further negotiation caused the Lease Agreement to be changed or 
modified from the original proposal, which is not a significant change or
modification, the Fund will proceed to ensure the benefit of unitholders under
the Lease Agreement.
(c)    To seek alternative lease agreement that benefits the Funds and then propose
 to the unitholders for further approval.
(d)    To consider alternative proposals or options of sales of asset for the best 
benefit of unitholders. If there are other alternatives or proposals of sales of
asset, the Management Company will propose to the unitholders for further
approval.

Agenda 4     To consider other matters (If any).

    -None-

                        Please be informed accordingly.
                            Sincerely Yours,

                              (Ms. Natree Panassthrkorn)
                                Executive Vice President







Property & Infrastructure Fund Department
Tel. 0-2649-2188, 0-2-6492189
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