Disclosure Information Detail

Logo:
Issue Code:LA3000040003
Disclosure Organization:Petroleum Trading Lao Public Company
Disclosure Date:13-01-2017
Disclosure Time:14:54:33
Disclosure Title:Suspended to pay the interim dividended for half year 2016
Disclosure Type:Voluntary Disclosure
Disclosure Reason:Others
Market Classification:Listed Company
Disclosure Detail:

No.:005 /PTL/2017

 Notification

 

To: Shareholders

Re: Suspended to pay the interim dividend for half year of 2016. 

  • Pursuant on the resolution of Board of Directors, dated 29/8/2106.
  • Pursuant on the result from the operation based on Interim Financial Statement from external auditor for half year reports of 2016 ended 30/6/2016.

 

Dear Sirs,

We, Petroleum Trading Lao Public Company would like to inform you that regarding to suspended to pay the dividend of the net profit income of the Company for half year reports of 2016 according to the resolution of the shareholders in the Annual General Shareholder Meeting of 2015 held on 27 April 2016 as on the agenda number 5 stated that “authorization for determining the interim dividend payment for the year 2016, shall be entitled to the consideration of Board of Directors”. After board of director has reviewed the interim consolidated financial statement report from independent auditor (E&Y) then the board of director has resolved and notified that the company is suspended to pay the interim dividend for half year of 2016 as following reasons:  

  1. The Government have re-structured of fuel taxes which effect to the importing cost of fuel. This issue is made the company created the higher cost;
  2. The oil global market prices have too fluctuation;
  3. The company has invested and expanded the new gas station throughout the country; and
  4. The company has invested in the petroleum business to oversea according to the strategy turning company itself from Importer into Trader.  

Therefore, we are writing this letter to inform you for acknowledge this issues.

Yours sincerely,

Chairman of the Board of Director  

Vang Rattanavong

Other reference:

Attached File(s)

Suspended_Devident_Payment_6_Months 2016_Lao.pdf
Suspended_Devident_Payment_6_Months 2016_Eng.pdf