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Published on December 26, 2007

It yesterday quoted Bliss-Tel as saying the company would raise Bt236 million from its shareholders and spend about Bt118 million on related business in the first quarter next year.

In the third quarter, the company's financial statement showed it had Bt284 million in cash and cash equivalents, plus Bt97 million in investments, totalling Bt381 million. The SET wants Bliss-Tel

to clarify its need to raise funds for investment of Bt118 million when it has Bt381 million in cash, cash equivalents and investments.

The exchange also demands that the company specify the ratio of working capital that was spent on its business and investment in securities.

On December 1, Bliss-Tel's board of directors resolved to increase its capital by Bt585 million, from Bt315 million to Bt900 million, by issuing 5,850 million shares at par value of Bt0.10 per share.

Some 1,575 million shares will be allocated to existing shareholders as shown on the shareholder list on January 2, 2008, at a price of Bt0.15 per share.

Bliss-Tel, consequently, will receive Bt236 million, of which the company

plans to use 40 to 50 per cent (Bt94 million to Bt118 million) for investment in related business in the first quarter next year.

The remainder will be reserved for investment in other projects in accordance with the company's expansion plans.

The Nation