Tipco Asphalt Public : Resolutions of Annual General Meeting of Shareholders No. 1/2016

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•T I PCO

•tSO 9001 tSO 14001 OHSAS 1I001

TIPCO ASPHALT PUBLIC COMPANY LIMITED

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Bor. Hor. 031/2016

11th April 2016

To: President The Stock Exchange of Thailand

Re: Resolutions of Annual General Meeting of Shareholders No. 1/2016

Enclosure: Summary of Voting Results of Annual General Meeting of Shareholders No. 1/2016

Tipco Asphalt Public Company Limited hereby announces the resolutions passed at its Annual General Meeting of Shareholders No. 1/2016 ("the AGM") held on 11th April 2016 at the 5th Floor Auditorium, Tipco Tower, 118/1 Rama 6 Rd., Samsen Nai, Phayathai, Bangkok. The meeting passed the following resolutions according to the voting results provided in the enclosure.

1. The AGM resolved to adopt the minutes of Extraordinary General Meeting of Shareholders No.1/2016;

2. The AGM acknowledged the Company's perfonnance for the year 2015;

3. The AGM resolved to approve the Audited Financial Statements ended on 3151 December 2015;

4. The AGM resolved to approve the investment plan for the year 2016 proposed at Baht 1,735.0 million and the divestment plan for the year 2016 proposed at Baht 204.0 million;

5. The AGM resolved to approve the final dividend payment for the year 2015 of Baht 0.4 per share in the amount of Baht 617,576,628 as well as acknowledged the payment of the two rounds of interim dividend of Baht 771,649,335;

6. The AGM resolved to approve the appointment of auditors and audit fee for the year 2016 as follows;

   
   

   
   

   Office : Tipco Tower, 118/1 Rama 6 Rd., Samsen Nai,Phayathai,Bangkok 10400, Thailand. Tel:+66 (0) 2273 6000 Fax:+66 (0) 2273·6030,(0) 2271-1601 www.tipcoasphall.com

   Factory : 259 Moo 8 Soi Ard.12032, Mittrapap Rd.,Naklang,Soongnern District, Nakhon Ratchasima 30380 Tel: +66 (O) 4433-5495-9 Fax:+66 (O) 4433-5495-9

   : 271 Moo 15 Phitsanulok·Bangragum Rd., Bangragum, Phitsanulok 65140 Tel:+66 (0) 5537·1461·2 Fax:+66 (0) 5537-1461·2 Ext. 360 1

   : 61 Moo 5 Soi Thaisilo,Suksawad Rd.,Bangchak, Phrapradaeng, Samutprakarn 10130 Tel:+66 (0) 2817 5111·5 Fax: +66 (0) 2817 5117

   : 90 Moo 5 North Nongchoompol,Khaoyoy, Phetchaburi 76140 Tel:+66 (0) 2273-6000 Ext. 5502-4 Fax: +66 (0) 2273-6000 Ext. 5501

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7. Approved appointment of the following auditors from EY Office Limited as the external auditors of the Company for the year 2016 :

   Mr. Supachai Phanyawattano Ms. Siraporn Ouaanunkun Ms. Supannee Triyanantakul

   C.P.A. Registration No. 3930, or

   C.P.A. Registration No. 3844, or

   C.P.A. Registration No. 4498;

8. Approved audit fee for the Company's financial statements of 2016 in the amount of Baht 2,250,000;

9. The AGM resolved to approve remuneration for all members of the Board of Directors and its sub-committees for the year 2016 as follows:

10. Payment of Extraordinary remuneration for members of all sub-committees only for the operational result of the Company in fiscal year 2015 in the amount of 2,120,000 Baht;

11. Payment of Extraordinary remuneration for non-executive members of Board of Directors only for the operational result of the Company in fiscal year 2015 in the amount of 2,562,500 Baht;

12. . Fixed remuneration for all the members of the Board of Directors and its sub- committees for 2016 in total amount of Baht 6,200,000;

13. Approved fixed remuneration for the Chairman of the Board of Directors in the amount of Baht 500,000 per year;

14. Approved fixed remuneration for member of the Board of Directors in the amount of Baht 250,000 per person per year. There are 14 persons altogether resulting in the total amount of Baht 3,500,000 per year;

15. Approved fixed remuneration for the Chairman of the Audit Committee in the amount of Baht 500,000 per year;

16. Approved fixed remuneration for the members of Audit Committee in the amount of Baht 400,000 per person per year. There are 3 persons altogether resulting in the total amount of Baht 1,200,000 per year;

17. Approved fixed remuneration for the Chairman and members of Nomination and Remuneration Committee in the amount of Baht 40,000

    
    

    
    

    Office : Tipco Tower, 118/1 Rama 6 Rd.,Samsen Nai, Phayathai,Bangkok 10400,Thailand. Tel:+66 (0) 2273·6000 Fax: +66 (0) 2273-6030 , (0) 2271-1601 www.tipcoasphalt.com Factory : 259 Moo 8 Soi Ard.12032,Mittrapap Ad., Naklang,Soongnern District,Nakhon Ratchasima 30380 Tel:+66 (O) 4433-5495-9 Fax:+66 (0) 4433-5495-9

    : 271 Moo 15 Phitsanulok-Bangragum Rd.,Bangragum, Phitsanulok 65140 Tel: +66 (0) 5537-1461-2 Fax:+66 (0) 5537-1461-2 Ext.360 2

    : 61 Moo 5 Soi Thaisilo,Suksawad Rd., Bangchak, Phrapradaeng, Samutprakarn 10130 Tel:+66 (O) 2817-5111-5 Fax:+66 (O) 2817-5117

    : 90 Moo 5 North Nongchoompol,Khaoyoy, Phetchaburi 76140 Tel: +66 (0) 2273-6000 Ext. 5502-4 Fax:+66 (O) 2273-6000 Ext. 5501

    
    

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    per person per year. There are 4 persons altogether resulting in the total amount of Baht 160,000 per year;

18. Approved fixed remuneration for the Chairman of Corporate Governance Committee in the amount of Baht 100,000 per year;

19. Approved fixed remuneration for the members of Corporate Governance Committee in the amount of Baht 80,000 per person per year. There are 3 persons altogether resulting in the total amount of Baht 240,000 per year;

20. Variable remuneration for all the members of the Board of Directors for the performance of 2016 not exceeding one time of the total annual fixed remuneration of all members of the Board of Director shall be considered and paid by the Board of Directors. Only seating directors are entitled to receive variable remuneration . For directors whose directorship less than one year, he or she shall receive his/her remuneration based on Pro-Rata basis;

21. The AGM resolved to approve the re-election of 4 directors, namely, Mr. Herve Le Bouc, Mr. Jacques Pastor, Mr. Chaiwat Srivalwat, and Mr. Sittilarb Supsakorn to serve for another term;




Please be infonned accordingly and further disseminate the above infonnation to the investors.




Sincerely,










Mr. Chaiwat Srivalwat Managing Director




Office : Tipco Tower, 118/1 Rama 6 Rd., Samsen Nai,Phayathai,Bangkok 10400, Thaiand. Tel:+66 (OJ 2273 6000 Fax:+66 (O) 2273·6030,(OJ 2271-1601 www.tipcoasphalt.com Factory : 259 Moo 8 Soi Ard.12032,Mittrapap Rd.,Naklang,Soongnern District, Nakhon Ratchasima 30380 Tel:+66 (OJ 4433 5495.9 Fax:+66 (OJ 4433.5495.9

: 271 Moo 15 Phitsanulok Bangragum Rd., Bangragum, Phitsanulok 65140 Tel:+66 (0) 5537- 1461 2 Fax:+66 (OJ 5537·1461·2 Ext.360

: 61 Moo 5 Soi Thaisilo, Suksawad Rd.,Bangchak ,Phrapradaeng, Samutprakarn 10130 Tel:+66 (OJ 2817·5111·5 Fax:+66 (OJ 2817 5117

: 90 Moo 5 North Nongchoompol, Khaoyoy, Phetchaburi76140 Tel:+66 (0) 2273·6000 Ext. 5502·4 Fax:+66 (0) 2273·6000 Ext. 5501

Tipco Asphalt Publ ic Company Limited




The Board resolved the date of the AGM No. 112016 April 1 1,2016

Enclosure

Summary of Voting Results to the Stock Exchange of Thailand




The Meeting open and at this moment the total number of shareholders attending this Meeting was as follows:

• 283 in persons holding altogether 79.798.553 shares or amounting to 7.3061%

  
  

• 2 16 by proxies holding altogether 947.610.047 shares or amounting to 86.7602%

  
  

• 234 by proxies. holding altogether 64.808.930 shares or amounting to 5.9337%.sent by registered mail appointing Independent Directors (Mr. Noppom Thepsithar or Mr. Niphon Suthimai or Mr. Pamchalerm Sutatam or Mr. Phirasi lp Subhapholsiri) to attend and vote on their behalf.

  
  

• Therefore. the total number of attendees were 733 persons, holding altogether 1.092.2 17.530 shares or amounting to 70.7422% of the Company's total number of shares (the Company had 12.557 shareholders and 1.543.941.570 shares in total}.thereby constituting a quorum according to Anicle 33 of the Anicles of Association of the Company which required shareholders and proxies attending the meeting of not less than 25 persons and holding shares altogether not less than one-third of the total number of shares issued of the







Agenda	Description	Approved	%	Disapproved	%	Abstained	%	Total Shares
I	To consider and adopt the minutes of the Extraordinary General Meeting of the Shareholders No. 112016 held on 5th January 2016	1.086.111.363	70.3467	2	0	5.300	0.0003	1.086. 116.665
3	To consider and approve the Audited Financial Statements ended on 31st December 2015	1.076.035.954	69.6941	2	0	11.303.800	0.732 1	1.087.339.756
4	To consider and approve the investment and divestment plans for the year 2016	1.087.433.744	70.4323	2	0	30.730	0.002	1.087.464.476
5	To consider and approve the allocation of profit and final dividend payment for the year 2015 as well as to acknowledge the payment of the interim dividend	1.086.297.664	70.3587	1.165.912	0.0755	5.300	0.0003	1.087.468.876
6.1	To consider and approve the appointment of auditors for the year 2016	1.087.461.944	70.4341	2.002	0.000 1	46.730	0.003	1.087.5 10.676
6.2	To consider and approve the audit fees for the year 2016	1.087.456.936	70.4338	32.440	0.0021	21.300	0.0014	1.087.510.676
7.1	To consider and approve payment of extraordinary variable remuneration for members of all sub·committccs only for the operational result oflhc Company in fiscal year 2015	1.085.814.266	70.3274	7.010	0.0005	46.730	0.003	1.085.868.006
7.2	To consider and approve payment of extraordinary variable remuneration for non· executive members of the Board of Directors for the operational result of the Company in fiscal year 20 15	1.073.379.766	69.522	131.010	0.0085	64.230	0.0042	1.073.575.006