03 May 2012

Notification on the Exercise of ESOP Warrants under the ESOP Warrants scheme assumed from PTTAR

(Translation) Ref. No. 01 - 356/2012 May 2, 2012 Subject: Notification on the result of the exercise of ESOP Warrants by the Directors, Executives and employees under the ESOP Warrants scheme assumed from PTTAR To: President, The Stock Exchange of Thailand As PTT Global Chemical Public Company Limited ("the Company") had the registration of amalgamation between PTT Aromatics and Refining Public Company Limited ("PTTAR") and PTT Chemical Public Company Limited ("PTTCH") on October 19, 2011, therefore, PTTAR and PTTCH had lost their status as juristic persons and the Company shall assume all assets, liabilities, rights, duties, and obligations from both PTTAR and PTTCH. Moreover, PTTAR which was founded from the amalgamation between Rayong Refinery Public Company Limited ("RRC") and The Aromatics (Thailand) Public Company Limited ("ATC"), PTTAR assumed all rights and obligations under 57,999,996 warrants to purchase ordinary shares which were issued and offered for sale to directors, management and employees of RRC, including the management and employees of PTT Public Company Limited ("PTT") who were seconded to work with RRC on a full time basis and had been approved by SEC on 15 October 2007. The exercise price and exercise ratio of these warrants were adjusted according to the terms and conditions of the warrants which thereafter became the warrants of PTTAR ("PTTAR ESOP Warrants"). The remaining PTTAR ESOP Warrants owned by PTTAR's or PTT's directors, management or employees were transferred to the Company. As of 29 August 2011, there are 12,939,342 units of PTTAR ESOP Warrants outstanding, with the conversion ratio of 1 warrant per 0.5167553 ordinary share of the PTTAR and the exercise price of 23.22 per share. According to the terms and conditions of PTTAR ESOP Warrants, PTTAR must adjust the exercise price and exercise ratio of PTTAR ESOP Warrants when it enters into an amalgamation. Therefore, the new exercise price is Baht 46.32 per the Company share, and the new exercise ratio is 1 warrant per 0.2590478 ordinary share of the Company share. All terms and conditions of the warrants shall remain unchanged except for the exercise price and exercise ratio, which shall be equivalent to those stated above. Details of the new allotment are as follows: Total number of warrants issued 57,999,996 units Number of warrants assumed from PTTAR 12,939,342 units Number of shares of the Company allocated 3,459,665 shares Offering price 0 Baht per unit Term 5 years Exercise ratio 1 warrant per 0.2590478 ordinary share Exercise price 46.32 Baht per share Exercise period Each warrant holder may exercise the warrant not more than 25%, 25% and 50% of the total warrants allotted to each individual from the Company after period of 12, 24 and 36 months from an issued date respectively. The warrants are exercisable on the last business day of each quarter since the first exercise date throughout the term of the warrants. The Company would like to report the exercised warrants under the third allotment, which have recently been exercised the seventh time on April 30, 2012 as follows; 1. Results of the exercise Number of exercisable warrants for the current exercise 10,393,942 units Number of exercised warrants for the current exercise 2,650,100 units Balance of the warrants 7,743,842 units Total number of shares in reserve 2,800,314 shares Number of shares in reserve for the current exercise 686,469 shares Balance of the shares 2,113,845 shares 2. Details of the share sale: Number of persons 63 persons Number of shares subscribed 686,469 shares Percentage of total shares offered for sale 19.84 % 3. Amount of money received from the share sales: Total amount 31,797,244.08 Baht Less Expenses (Specify) 0 Baht Net amount received 31,797,244.08 Baht Please be informed accordingly Sincerely yours, (Mr. Anon Sirisaengtaksin) Chief Executive Officer Corporate Finance and Investor Relations Tel. +66 (0) 2 265 8421, +66(0) 2 265 8574, +66 (0) 2 140 8712 ______________________________________________________________________ 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.