Siam City Cement PCL, Thailand’s second-largest cement producer by capacity, said Tuesday it is in the process of writing off 12.5m treasury shares, or 5% of paid-up capital, which were bought back three years ago.
The three-year resale period for the treasury shares has just expired, the company said in a statement to the Stock Exchange of Thailand.
Following the share write-off, the company’s paid-up shares will fall by 12.5m shares to 237.5m shares, with a par value of THB10 each, the company said in the statement.
The company will inform the Thai bourse of progress in the share write-off program and register the change of capital with the Ministry of Commerce, the statement said.
Siam City Cement is majority-owned by Holcim.