LEGAL RESERVE. Under the provision of the civil and commercial code, the Company is required to set aside as statutory reserve at least 5% of its net income at each dividend declaration until the reserve reaches 10% of authorized capital. The reserve is not available for dividend distribution.
LEGAL RESERVE. Article 154 of the Commercial Companies Law of 1974 requires that 10% of a company's net profit be transferred to a non-distributable statutory reserve until the amount of the statutory reserve becomes equal to at least one-third of the Company's paid up share capital.
LEGAL RESERVE. Under the provision of the Public Limited Companies Act B.E.2535, the Company must appropriate the reserve at least 5% of its annual net income after deduction of the deficit brought forward (if any) until the reserve reaches 10% of the authorized share capital. The legal reserve is not available for dividend distribution. A subsidiary had appropriated its legal reserve as reserve fund of which the reserve reaches 10% of the authorized share capital. According to the resolution on the Board of Directors Meeting No. 1/2022 held on February 23, 2022 the Company had appropriated its legal reserve in the amount of Baht 13.50 million of annual net income in 2021. According to the resolution on the Board of Directors Meeting No. 1/2021 held on February 24, 2021 the Company had appropriated its legal reserve in the amount of Baht 6.20 million of annual net income in 2020.
LEGAL RESERVE. Section 116 of the Public Companies Act B.E. 2535 requires that a public company shall allocate not less than 5% of its annual net profit, less any accumulated losses brought forward, to a reserve account (“legal reserve”), until this account reaches an amount not less than 10% of the registered authorised capital. The legal reserve is not available for dividend distribution.
LEGAL RESERVE. In compliance with the Public Company Act, B.E.2535 (1992), the Company set aside as a legal reserve at least 5% of its net profit until the reserve equaled 10% of the authorized share capital. This reserve is not available for dividend distribution.
LEGAL RESERVE. Under the provisions of the Limited Public Company Act B.E 2535, the Company is required to appropriate at least 5 % of its annual net income after deduction of the deficit brought forward (if any) as legal reserve until the reserve equal to 10 % of authorized share capital. The reserve is not available for dividend distribution.
LEGAL RESERVE. The Company currently has an accrual reserve, as of -------------- March 31, 2006, with regard to the SBC litigation of $510,000. If the Company satisfies the SBC litigation claim for any amount less than such accrued reserve, any excess funds realized by the Company may be used to reduce the Wachovia Credit Facility after Closing.
LEGAL RESERVE. In 2015, according to the resolution of the Board of Directors Meeting No. 1/2016 held on February 26, 2016, the Company had appropriated its legal reserve in the amount of Baht 6.50 million of annual net income in 2015 and it was approved at the Annual General Meeting of the shareholders on April 21, 2016.
