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23. Share capital Note Authorised At 1 January - ordinary shares Reduction of shares from cancellation of treasury shares At 31 December - ordinary shares Issued and paid-up At 1 January - ordinary shares Reduction of shares from cancellation of treasury shares At 31 December - ordinary shares

24

24

Par value per share (in Baht)

Number

2013

2012 Baht Number (in thousand shares / in thousand Baht)

Baht

1

861,317

861,317

867,617

867,617

1

-

-

(6,300)

(6,300)

1

861,317

861,317

861,317

861,317

1

860,384

860,384

866,684

866,684

1

-

-

(6,300)

(6,300)

1

860,384

860,384

860,384

860,384

24. Treasury shares and treasury shares reserve Par value Number per share (in Baht)

Consolidated / separate financial statements 2013 2012 Treasury Treasury Number Treasury shares shares reserve shares (thousand shares / thousand Baht)

Treasury shares reserve

At 1 January Treasury shares held 1 6,300 (11,548) 11,548 Cancellation of treasury shares 1 (6,300) 11,548 (11,548) At 31 December 1 The treasury shares account within equity comprises the cost of the Company’s own shares held by the Group. At 31 December 2013 and 2012, the Group held no treasury shares. By resolution of the extraordinary shareholders’ meeting of the Company held on 19, January 2009, the Company was approved to repurchase, for financial management purposes, up to Baht 95 million or 85 million shares, equivalent to 9.81% of the total issued and paid-up share capital of the Company. The period for the repurchase of the shares was from 3 February 2009 to 2 August 2009 and the resale period was from 3 February 2010 to 3 August 2012. In the event that the Company was unable to dispose of all repurchased shares within the set period, the Company was to reduce its paid-up share capital by cancelling the remaining unsold repurchased shares. The Board of Directors’ meeting of the Company held on 14 August 2012 passed a resolution to cancel the 6,300,000 repurchased shares then held by the Company; to reduce the authorized and issued share capital of the Company accordingly; and to transfer Baht 11,548,084 held in the treasury shares reserve in respect of these shares back to retained earnings. The Company registered the decrease in its paid-up registered share capital from 866,684,157 shares to 860,384,157 shares with the Ministry of Commerce on 17 August 2012.

25. Reserves

Reserves comprise: Appropriations of profit and/or retained earnings Legal reserve Section 116 of the Public Companies Act B.E. 2535 Section 116 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. Treasury shares reserve The treasury shares reserve represents the amount appropriated from retained earnings equal to the cost of the Company’s own shares held by the Group. The treasury shares reserve is not available for dividend distribution.

Annual Report 2013

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MK : Annual Report 2013  

Annual Report 2013

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