SET Announcements
SPENDING OF PROCEEDS
03 August 1998
July 30, 1998
Manager
The Stock Exchange of Thailand
Dear sir:
Noble Development Public Company Limited has issued 11 million comon shares
and allotted them to general public at Bt16 per share and to officer at
Bt12 per share totaling to Bt173 million on May 6-8,1997. The company would
like to report spending of proceeds ended June 30,1998, comparing to the
previous report dated February 17,1998 as follows:
Unit:Million
+-------------------+-------------+-----------------+-----------------+
| Objectives | Planned | Previous report | Accumulated |
| | Utilization |dated Feb 17,1998|Utilization ended|
| |in Prospectus| | Jun 30,1998 |
+-------------------+-------------+-----------------+-----------------+
|1. Present projects| | | |
| development | 57 | 69 | 111 |
|2. Land purchase | | | |
| for future | | | |
| projects | 57 | -0- | -0- |
|3. Loans repayment | 50 | 50 | 50 |
|4. Working capital | 9 | 54 | 12 |
+-------------------+-------------+-----------------+-----------------+
| | 173 | 173 | 173 |
+-------------------+-------------+-----------------+-----------------+
The Company would like to clarify for amount spent obviously different
from projected amount. Since the economic crisis, the company decided
to adjust its strategies to complete the on-going projects and suspend
purchasing land for future projects.
Sincerely,
Kitti Thanakitamnuay
Managing Director