The decision was made after the company earlier said it would remove IEC Mobile's assets acquisition from the agenda of the shareholders' meeting to be held on November 15.

Earlier, Bliss-Tel planned to buy assets of IEC Mobile in the exchange of which Bliss-Tel would issue 47 million newly issued shares to IEC Mobile.

Bliss-Tel earlier said that since the transaction was a connected one, the company had to submit the relevant information to the shareholders at least 14 days prior to the meeting. But because of the absence of an independent financial adviser's opinion regarding the connected transaction, the company could not submit the related documents to the shareholders on schedule.

On November 15, Bliss-Tel said it would propose to the shareholders' meeting that it approve a plan to increase registered capital from Bt299 million to Bt800 million by issuing 501 million shares at par value of Bt1 each, totalling Bt501 million.

The company informed the Stock Exchange of Thailand that the entire lot worth Bt501 million would be offered via private placement or institutional investors rather than offering 47 million shares to IEC Mobile and the remaining 454 million shares via private placement or institutional investors as planned earlier.

Bliss-Tel said it expected the capital increase to support the company's future business expansion and promote better operating results, which would affect the dividend payment to shareholders. After the allotment of the total 501 million shares, the portion of

existing shareholders will be decreased by control dilution to 31.46 per cent.