TrueSuccess - True Corporation Public Company Limited

ANNUAL REPORT 2004 TRUE CORPORATION PUBLIC COMPANY LIMITED57Exercise RatioThe 1 st Certificate: Warrant Holders shall be starting exercisingfrom 14 th June 2003 until its expiration.The 2 nd Certificate: Warrant Holders shall be starting exercisingfrom 14 th June 2004 until its expiration.The 3 rd Certificate: Warrant Holders shall be starting exercisingfrom 14 th June 2005 until its expiration.: One unit of warrants entitles to purchase one ordinaryshare at Baht 10.60(3.4)Employee Stock Option Plan 2000The Annual General Shareholders Meeting of the Company for the year 2000 held on April 27, 2000 has approved theissuance and offer of non-transferable warrants to purchase the Companyûs ordinary shares to certain Directors andemployees at executive level totaling not exceeding 35 persons. Summary details are as follows:Number of Warrants Issued and Outstanding: 36,995,000 unitsDate of Issuance : 9 th June 2000MaturityDate of Expiry : 9 th June 2010: 10 years from the issuance dateExercise Period : (a) Warrant Type 1:Each Warrant Holder received 3 separate warrant certificates.Each certificate represented 1/3 of the whole amount of warrantsallotted and is exercisable for subscribing ordinary shares startingfrom June 30, 2000, 2001 and 2002 respectively.Exercise Ratio(b) Warrant Type 2:Each Warrant Holder received 3 separate warrant certificates.Each certificate represented 1/3 of the whole amount of warrantsallotted and is exercisable for subscribing ordinary shares startingfrom December 31, 2000, 2001 and 2002 respectively.: One unit of warrants entitles to purchase one ordinaryshare at Baht 10.60