(Translation)

Ref. TBK 01/0179

April 7, 2021

Subject:

Resolutions of the 2021 Annual General Meeting of Shareholders

To

:

President of the Stock Exchange of Thailand

  1. : Secretary-General of the Securities and Exchange Commission Dear Sir,

Thai Oil Public Company Limited (the "Company") would like to report the resolutions of the 2021 Annual General Meeting of Shareholders held on Wednesday, April 7, 2021, 9.00 hrs. at Bangkok Convention Center, 5th Floor, Central Plaza Ladprao Department Store, located at 1695 Phaholyothin Road, Chatuchak Sub-District, Chatuchak District, Bangkok 10900. The Meeting resolved as follows:

Agenda Item 1 To Acknowledge the Company's 2020 Operating Results and to Approve the Audited Financial Statements for the Year Ended December 31, 2020

Resolution

The Meeting, by the majority votes of the shareholders who attended the

meeting and casted their votes, resolved to acknowledge the Company's

2020 operating results and to approve the audited financial statements for

the year ended December 31, 2020 with the following votes:

Approved

1,481,543,212

votes,

or

100 %

Disapproved

0

votes,

or

0 %

Abstained

993,800

votes

Voided Ballots

0

votes

Agenda Item 2 To Approve the Dividend Payment for the Company's 2020 Operating Results

ResolutionThe Meeting, by the majority votes of the shareholders who attended the meeting and casted their votes, resolved to approve the dividend payment from the Company's operating results from January 1 to December 31, 2020 which will be paid to shareholders of total 2,040,027,873 shares at Baht 0.70 per share, totaling approximately Baht 1,428 million. The dividend will be paid from the unallocated retained earnings as of December 31, 2020, which are subject to Corporate Income Tax at the rate of 20% and 0% in the amount of Baht 0.42 and 0.28 per share, respectively.

The Company will pay the dividend to the shareholders whose names appear in the share register book on March 1, 2021 (Record Date). The dividend will be paid on April 26, 2021.

- 1 -

The resolution comprised the following votes:

Approved

1,482,540,621

votes,

or

100 %

Disapproved

0

votes,

or

0 %

Abstained

2,700

votes

Voided Ballots

0

votes

Agenda Item 3

To Approve the 2021 Remuneration for the Company's Directors

Resolution

The Meeting, by the number of votes of not less than two-thirds (2/3) of

the total number of votes of the shareholders attending the meeting and

have the right to vote, resolved to approve the 2021 Remuneration for the

Company's Directors as follows:

1. Retainer Fee for Board of Directors 1.1 Fixed Retainer Fee

-

Chairman

62,500 Baht / Month

-

Vice Chairman (if appointed)

56,250 Baht / Month

-

Director

50,000 Baht / Month

1.2 Meeting Allowance (only actual attendance)

-

Chairman

50,000 Baht / Meeting

-

Vice Chairman (if appointed)

45,000 Baht / Meeting

-

Director

40,000 Baht / Meeting

2. Retainer Fee for Board-Committees namely,

Audit Committee, Nomination and Remuneration Committee, Corporate Governance Committee , Risk Management Committee and other Board-Committees (if any)

Meeting Allowance (only actual attendance)

-

Chairman of the Committee

56,250 Baht / Meeting

-

Director of the Committee

45,000 Baht / Meeting

3.

Bonus

- None -

4.

Other Remuneration

- None -

The resolution comprised the following votes:

Approved

1,481,569,621

votes,

or

99.9322 %

Disapproved

1,002,800

votes,

or

0.0676 %

Abstained

2,900

votes

or

0.0002 %

Voided Ballots

0

votes

or

0.0000 %

- 2 -

Agenda Item 4 To Approve the 2021 Annual Appointment of Auditors and Determination of their Remuneration

ResolutionThe Meeting, by the majority votes of the shareholders who attended the meeting and casted their votes, resolved to approve the appointment of auditors from PricewaterhouseCoopers ABAS Ltd., as the Company's auditors in 2021. One of the following auditors may audit and provide opinions on the Company's 2021 financial statements

1.

Mr. Boonrueng Lerdwiseswit

Certified Public Accountant Registration No.6552

or

2.

Mr. Kan Tanthawirat

Certified Public Accountant Registration No. 10456

or

3. Mr. Pongthavee Ratanakoses

Certified Public Accountant Registration No.7795

The Meeting also resolved to approve the 2021 auditor's remuneration as follows.

  • Total audit fee for annual audit and quarterly review in amount of Baht 1,753,800.
  • Other expenses which actually occurred during the performance period such as travelling, documentation, etc., per actual but not exceeding 8% of audit fee

The resolution comprised the following votes:

Approved

1,340,356,067

votes,

or

90.4071 %

Disapproved

142,222,054

votes,

or

9.5929 %

Abstained

0

votes

Voided Ballots

0

votes

Agenda Item 5 To Approve the Appointment of New Directors in Replacement of those who complete their terms by rotation in 2021

ResolutionThe Meeting, by the majority votes of the shareholders who attended the meeting and casted their votes, resolved to approve the appointment of the following persons as the Company directors

  1. Prof. Dr. Supot Teachavorasinskun, re-elected as (Independent) Director with the following votes:

Approved

1,482,571,721

votes,

or

99.9994 %

Disapproved

9,000

votes,

or

0.0006 %

Abstained

3,600

votes

Voided Ballots

0

votes

- 3 -

(2) Mr. Wirat Uanarumit, re-elected as Director with the following votes:

Approved

1,472,150,039

votes,

or

99.2964 %

Disapproved

10,431,582

votes,

or

0.7036 %

Abstained

2,700

votes

Voided Ballots

0

votes

(3) Dr. Prasert Sinsukprasert, elected as Director with the following votes:

Approved

1,469,637,361

votes,

or

99.1270 %

Disapproved

12,943,360

votes,

or

0.8730 %

Abstained

3,600

votes

Voided Ballots

0

votes

  1. Assoc. Prof. Dr. Pasu Decharin, re-elected as (Independent) Director with the following votes:

Approved

1,368,677,417

votes,

or

92.3629 %

Disapproved

113,170,885

votes,

or

7.6371 %

Abstained

736,019

votes

Voided Ballots

0

votes

(5) Dr. Sompop Pattanariyankool, elected as Director with the following votes:

Approved

1,469,638,261

votes,

or

99.1270 %

Disapproved

12,943,360

votes,

or

0.8730 %

Abstained

2,700

votes

Voided Ballots

0

votes

Agenda Item 6

Others

None

Yours truly,

Thai Oil Public Company Limited

-----------------

Mr. Wirat Uanarumit

Chief Executive Officer and President

Corporate Secretary and Governance Section

Tel 02 299 0000 ext. 43320, 43322, 43323, 43326

Fax 02 797 2973

- 4 -

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Thai Oil pcl published this content on 07 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2021 10:47:10 UTC.