The Company may, at the discretion of the Board of Directors, pay dividends at a rate different from the stated policy or omit dividend payments, if deemed appropriate. Once the Board of Directors has resolved to pay or omit dividends, the matter must be submitted for approval at the shareholders’ meeting. The Company has followed this practice since B.E. 2546 (2003).

Pursuant to the Public Limited Companies Act B.E. 2535 (1992), as amended, a public company is prohibited from paying dividends if it has accumulated losses, even if it records a profit in that year. Dividends may only be paid from net profit. Furthermore, the Act and the Company’s Articles of Association require that a portion of annual net profit be allocated to a legal reserve at a rate of not less than 5% of annual net profit, after deducting any accumulated losses, until the reserve reaches at least 10% of the Company’s registered capital.