Sea Horse yesterday provided the Stock Exchange of Thailand (SET) with additional information about its investment in Power Energy, disclosing that one of Power Energy's shareholders has the same surname - Indmara - as the new major shareholder of Sea Horse.

Sea Horse recently said it was set to acquire a controlling stake in Power Energy for Bt150.48 million as part of its plan to shift its core business away from frozen seafood to energy, following a change in major shareholders.

Sea Horse did not say how many shares it would buy in Power Energy but did say Supin Rojanapruek was currently Power Energy's main shareholder, with 99.95 per cent, or 5.99 million shares.

According to Sea Horse's report to the SET, Pirada Indmara appears as one of Power Energy's shareholders, holding one share as of 2006 when the company's paid-up capital was Bt153.75m and par value Bt100 per share.

Sea Horse earlier said that Vorajet Intamara and Sompoch Arhunai had acquired a combined 2.6 billion shares, or 93.53 per cent, in Sea Horse and would launch a tender offer between November 1 and December 6.

The two have already paid Bt1.64 billion for the shares.

Pirada's name also appeared as a shareholder in Power Energy on August 22, 2004.

Power Energy is building an ethanol plant in Kamphaeng Phet province. When it is completed in early 2008, it will have a daily production capacity of 400,000 litres.

Power Energy has paid-up capital of Bt153.75m. Its assets of Bt150.48 milli on equal its shareholders' equity.

A source from a brokerage house said the shareholders in Power Energy were likely to be the same group as the new major shareholders of Sea Horse.

In addition to being the major shareholder of Power Energy, Supin is the wife of Sirithach, the major shareholder of ComLink.

Vorajet as well as Sirithach currently hold about 5 per cent each in Bangkok First Investment and Trust.

Aside from Supin and Pirada, other shareholders of Power Energy include Siriporn Maneepun with 3,299 shares.

Kingtien Bang-or, Lisa Nawong, Thongthip Supruayruen, and Supida Chattraphirak each hold one share in the company.

However, a source from the financial adviser of the new major shareholders of Sea Horse said the disclosure of Power Energy's shareholders to the public, the SET and the Securities and Exchange Commission should provide a better understanding of the company.

"Although they have the same surname, they are not connected. They are not subject to the SET's connected-party regulation," he said.