present, there are many more satellite channels. However, the suggestion would be brought intoconsideration with the management.Mr. Pitipat Pattanatanchoke, proxy of Thai Investors Association, stated that Thai InvestorsAssociation had a policy of holding shared of every company for the benefit of minor shareholders andinquired about the following matters:1. Statements of Income on page 154 of the Annual Report2. No. 18 of the Notes to the Financial Statement on page 214 stated that the <strong>Company</strong> had othercurrent liabilities from the purchases of property, plant and equipment. Such liabilities amounted to Baht163 million which was about Baht 100 million more than that of the year 2009. Mr. Pitipat inquiredabout how the <strong>Company</strong> managed these expenses as well as made profit from such acquired assets.3. For No. 23 of the Notes to the Financial Statement on page 228 concerning the revenue fromTV and radio businesses, Mr. Pitipat inquired about the decrease of income from airtime rentals andabout whether the increase of income from advertisement were resulted from airtime price raise or fromhigher amount of advertisements.Mr. Jessada Promjart, CFO, explained as follows:1. In the Statements of Income on page 154, administrative expenses was Baht 136 millionhigher than last year as a result of the expenses of early retirement scheme of more than Baht 100million paid to employees requested to retire from their position before their retirement and the expensesof normal retirement employees and of having special consultants for the improvement of internal worksystem of Baht 20 million.2. The rise in current liabilities of the <strong>Company</strong> of Baht 100 million was because in 2010 the<strong>Company</strong> purchased 4 more satellite trucks at approximately Baht 8 million each, totaling Baht 32million. Moreover, the <strong>Company</strong> also purchased TV production and archiving system at Baht 59million and improved news production and networking systems at Baht 30 million. These expensestotaled approximately more than Baht 100 million.3. The increase of Baht 500 million in advertisement revenue appeared on page 228 was a resultof the price adjustment, more advertisement from special activities and more utilization duringprimetime and non-primetime compared to the year 2009.4. For the decrease of airtime rental price, this was a result of the change of business model totimesharing in which the <strong>Company</strong> shared advertisement airtime with the programs’ productioncompanies.Mr. Somchai Chansa-ard, shareholder, inquired about the corruption in the activity “AmazingWomen Power” organized in Thungsong, Nakornsrithammarat Province, of FM 95 MHz radio station,which appeared on www.youtube.com.Mr. Seksan Supasaeng, shareholder, gave opinions as follows:1. All kinds of income appeared on page 228 increased except for the income from TV airtimerental that dropped.2. The expenses from TV and radio operation went higher. The <strong>Company</strong> needed to separatelyconsider the expenses of TV from those of radio. Especially the expenses of radio business, the stationsshould be categorized as station for the public, for society and environment and for commerce. The<strong>Company</strong> needed to set the goals for commercial stations in this competitive environment, while savingthe benefits and reducing loss of public stations.3. Mr. Seksan requested a clarification on commitments and contingencies concerning 9 pendinglitigations which would cost significant amount of claims as appeared on page 238 of the annual report.4. Mr. Seksan requested a clarification on the progress of the development of 50-rai land plot.5. For the early retirement scheme, the employees who were granted early retirement could reapplyfor any position in the <strong>Company</strong> or not.The Chairman explained that the TV airtime rental price lowered due to the change to timesharingmodel where <strong>MCOT</strong> Plc. could seek advertisement itself. For the litigations, those cases were the longpendinglitigations. The <strong>Company</strong> had not reserved money for the claims of some of such litigationssince, they were considered that there had not been any cause for paying such claims. For the 50-railand plot, the <strong>Company</strong> had clearly set the strategic plan and proceeded with many related activities.It was expected that the profit from such land would be higher than the profits from deposite interests.The Chairman would like to reassure that the Board of Directors and executives had continuously-6-
considered and planned many related issues which would soon be realized and announced to the public.For other observations and comments, the Chairman was pleased to bring them into consideration.The Chairman asked the Meeting to approve the balance sheets and statements of income for the yearended between January 1 - December 31, 2010The Resolution of the Meeting, the Meeting approved the balance sheets and statements of income forthe year ended January 1-December 31, 2010 with votes as follows:Approved 575,422,940 votes or 99.9938 %Disapproved 11,153 votes or 0.0019 %Abstained 24,162 votes or 0.0041 %Agenda 5: To acknowledge the interim dividend distribution and to consider the dividenddistribution for the year 2010The Chairman reported the Meeting that for annual dividend payment for 2010, the Board of Directorsresolved to allocate the profit for dividend in 2010 at the rate of Baht 1.90 per share or 92% of earningper share. In this regard, the Baht 0.80 per share interim dividend had been paid on October 20, 2010 forthe operating result of the period between January 1 - June 30, 2010 and the Baht 1.10 per sharedividend payment for the operating result of the period between July 1 - December 31, 2010 wasscheduled for May 18, 2011.The Chairman requested the Meeting to acknowledge the interim dividend payment and 2010 dividendpayment.The Resolution of the Meeting acknowledged the interim dividend payment and approves the 2009dividend payment as proposed with votes as follows:Approved 575,445,902 votes or 99.9978 %Disapproved 10,153 votes or 0.0017 %Abstained 2,200 votes or 0.0003 %Agenda 6: To acknowledge the directors retired by rotation and consider the election ofreplacement directorsThe Chairman informed the Meeting that some directors possessed the interest in this agenda andexpressed their intent to leave the room. Those directors were as follows:1. Mrs. Danucha Yindeepit2. Dr. Anusorn Tamajai3. Mr. Pongchai Amtanon4. Mrs. Daranee Charoen-RajaparkMr. Nathi Premrasmi as the Chairman of Nomination Committee was assigned to report to theshareholders.Mr. Nathi Premrasmi, Chairman of Nomination Committee, informed the shareholders of directorsretired by rotation and the name list of persons nominated to be appointed as directors. This year, onethird of the total 13 directors would resign by rotation; those 4 directors were as follows:1. Mrs. Danucha Yindeepit2. Dr. Anusorn Tamajai3. Mr. Pongchai Amtanon4. Mrs. Daranee Chareon-RajaparkTherefore, the Meeting had been asked to acknowledge the 4 retiring-by-rotation directors.The Nomination Committee selected persons whose qualifications, knowledge and experience,including essential requirement, were suitable and beneficial to the businesses of the <strong>Company</strong>. In thisregard, the nomination of directors had been announced and publicized through the <strong>Company</strong>’s websiteand media outlets and published on newspapers. The <strong>Company</strong> also invited shareholders to proposeagendas and nominate persons to be selected as directors from December 1-31, 2010; however, noshareholder did so.-7-
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