Reports to the Stock Exchange
Report of the Utilization of Capital Increase from TSR
Ref.No.IVL002/07/2012
11 July 2012
President
The Stock Exchange of Thailand
Subject: Report of the Utilization of Capital Increase from TSR
With reference to Indorama Ventures Public Company Limited ("the Company or
IVL") issuance of 479,986,198 units of Transferable Subscription Right ("TSR"),
during the period of 10-24 February 2011 to raise a net amount of Baht 17,221
million after deduction of the expenses for TSR offering.
IVL and its subsidiaries have invested an amount of Baht 13,376 million for
acquisition, expansion, purchase of fixed assets and working capital as under:
- Acquisition of 75% equity stake in Trevira Holdings GmbH, Germany
- Acquisition of 42% equity stake in PT. Indorama Petrochemicals (previously PT.
Polyprima, Indonesia)
- Acquisition of 100% equity stake in Wellman Group, Europe
- Acquisition of 100% equity stake in FiberVisions Group, USA
- Acquisition of 100% Partnership Interest in Old World Industries I, Ltd and
Old World Transportation Ltd, USA which are renamed after acquisition as
Indorama Ventures (Oxide & Glycols) Ltd. and Indorama Ventures Logistics Ltd.
- Expansion through a brown field project for PET polymers in Indorama Polymers
Rotterdam B.V., Rotterdam, Netherlands
- Expansion through a Greenfield project for Polyester fibers and yarns under a
new entity, PT. Indorama Polychem Indonesia in Indonesia
- Expansion through a Greenfield project for PET polymers in Indorama PET
(Nigeria) Ltd, Nigeria.
- Debottlenecking of capacity, modifications and improvements in PET polymers
plant, Guangdong IVL PET Polymers Co. Ltd., Kaiping, China .
The acquisitions and expansions are in the core business of polyester value
chain for sustainable growth through volume expansion, integration into key raw
materials, geographic diversification, product diversification and
innovation for product development. In addition,
Baht 3,845 million has been used for prepayment of long term loans in IVL and
its subsidiaries. The prepayment of loans will improve liquidity and will reduce
current portion of long term loans.
Thus the company had fully utilized the funds received by it under TSR.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________
This announcement was prepared and disseminated by listed company or issuer
through the electronic system which is provided for the purpose of dissemination
of the information and related documents of listed company or issuer to the
Stock Exchange of Thailand only. The Stock Exchange of Thailand has no
responsibility for the correctness and completeness of any statements, figures,
reports or opinions contained in this announcement, and has no liability for any
losses and damages in any cases. In case you have any inquiries or
clarification regarding this announcement, please directly contact listed
company or issuer who made this announcement.
11 July 2012
President
The Stock Exchange of Thailand
Subject: Report of the Utilization of Capital Increase from TSR
With reference to Indorama Ventures Public Company Limited ("the Company or
IVL") issuance of 479,986,198 units of Transferable Subscription Right ("TSR"),
during the period of 10-24 February 2011 to raise a net amount of Baht 17,221
million after deduction of the expenses for TSR offering.
IVL and its subsidiaries have invested an amount of Baht 13,376 million for
acquisition, expansion, purchase of fixed assets and working capital as under:
- Acquisition of 75% equity stake in Trevira Holdings GmbH, Germany
- Acquisition of 42% equity stake in PT. Indorama Petrochemicals (previously PT.
Polyprima, Indonesia)
- Acquisition of 100% equity stake in Wellman Group, Europe
- Acquisition of 100% equity stake in FiberVisions Group, USA
- Acquisition of 100% Partnership Interest in Old World Industries I, Ltd and
Old World Transportation Ltd, USA which are renamed after acquisition as
Indorama Ventures (Oxide & Glycols) Ltd. and Indorama Ventures Logistics Ltd.
- Expansion through a brown field project for PET polymers in Indorama Polymers
Rotterdam B.V., Rotterdam, Netherlands
- Expansion through a Greenfield project for Polyester fibers and yarns under a
new entity, PT. Indorama Polychem Indonesia in Indonesia
- Expansion through a Greenfield project for PET polymers in Indorama PET
(Nigeria) Ltd, Nigeria.
- Debottlenecking of capacity, modifications and improvements in PET polymers
plant, Guangdong IVL PET Polymers Co. Ltd., Kaiping, China .
The acquisitions and expansions are in the core business of polyester value
chain for sustainable growth through volume expansion, integration into key raw
materials, geographic diversification, product diversification and
innovation for product development. In addition,
Baht 3,845 million has been used for prepayment of long term loans in IVL and
its subsidiaries. The prepayment of loans will improve liquidity and will reduce
current portion of long term loans.
Thus the company had fully utilized the funds received by it under TSR.
Please be informed accordingly.
Yours faithfully,
(Mr. Souvik Roy Chowdhury)
Company Secretary
______________________________________________________________________
This announcement was prepared and disseminated by listed company or issuer
through the electronic system which is provided for the purpose of dissemination
of the information and related documents of listed company or issuer to the
Stock Exchange of Thailand only. The Stock Exchange of Thailand has no
responsibility for the correctness and completeness of any statements, figures,
reports or opinions contained in this announcement, and has no liability for any
losses and damages in any cases. In case you have any inquiries or
clarification regarding this announcement, please directly contact listed
company or issuer who made this announcement.