Share Capital

Our share capital is Baht 300,000,000 divided into 300,000,000 ordinary
shares of Baht 1/- each. Our capital is fully paid up. The company has
not increased its share capital during last 7 years.

Liability to issue share in the future

---None---

Policy for capital increase

The company does not have any plans to increase its shares capital or
issue the new shares in the near future.

Major shareholders (Top 10)

(Source: Share registrar as on 27.12.2012)

+---+----------------------------------+-------------+--------+------+
| S | Shareholders                     | Nationality | No of  | %    |
| e |                                  |             | Share  |      |
| n |                                  |             |        |      |
| o |                                  |             |        |      |
| . |                                  |             |        |      |
+---+----------------------------------+-------------+--------+------+
|   | ผู้ถือหุ้น                            | สัญชาติ       | จ      |      |
|   |                                  |             | ำนวนหุ้น |      |
+---+----------------------------------+-------------+--------+------+
| 1 | Thai Rayon Public Co.,Ltd.       | Thai        | 74,9   | 2    |
|   |                                  |             | 37,500 | 4.98 |
+---+----------------------------------+-------------+--------+------+
|   | บริษัท ไทยเรยอน จำกัด (มหาชน)       | ไทย         |        |      |
+---+----------------------------------+-------------+--------+------+
| 2 | Everlon International Holding    | British     | 37,6   | 1    |
|   |                                  | Virgin      | 87,500 | 2.56 |
|   |                                  | Island      |        |      |
+---+----------------------------------+-------------+--------+------+
|   | บริษัท เอเวอลอน อินเตอร์เนชั่นแนล      | เกาะบิชติส    |        |      |
|   | โฮลดิ้ง                            | เวอร์จิน      |        |      |
+---+----------------------------------+-------------+--------+------+
|   | บริษัท ศูนย์รับฝากหลักทรัพย์ (ประเทศไทย) | ไทย         |        |      |
|   | จำกัด เพื่อผู้ฝาก                     |             |        |      |
+---+----------------------------------+-------------+--------+------+
| 3 | Mr.Veeraphan Theepsuwan          | Thai        | 30,2   | 1    |
|   |                                  |             | 00,120 | 0.07 |
+---+----------------------------------+-------------+--------+------+
|   | นายวีระพันธ์ ทีปสุวรรณ                | ไทย         |        |      |
+---+----------------------------------+-------------+--------+------+
| 4 | P.T Indo Bharat Rayon            | Indonesian  | 23,2   | 7.77 |
|   |                                  |             | 96,880 |      |
+---+----------------------------------+-------------+--------+------+
|   | บริษัท พี ที อินโด บารัส เรยอน         | อินโดนีเซีย    |        |      |
+---+----------------------------------+-------------+--------+------+
| 5 | Hilltop Limited                  | British     | 10,2   | 3.42 |
|   |                                  | Virgin      | 71,250 |      |
|   |                                  | Island      |        |      |
+---+----------------------------------+-------------+--------+------+
|   | บริษัท มิราพา จำกัด                  | จิปรอนต้า     |        |      |
+---+----------------------------------+-------------+--------+------+
| 6 | Asseau Company Ltd.              | British     | 10,0   | 3.35 |
|   |                                  | Virgin      | 40,120 |      |
|   |                                  | Island      |        |      |
+---+----------------------------------+-------------+--------+------+
|   | บริษัท อาเซยู จำกัด                  | เกาะบิชติส    |        |      |
|   |                                  | เวอร์จิน      |        |      |
+---+----------------------------------+-------------+--------+------+
| 7 | Thevaraya Co.,Ltd                | Thai        | 6,5    | 2.19 |
|   |                                  |             | 66,250 |      |
+---+----------------------------------+-------------+--------+------+
| 8 | Thai Industrial Management and   | Thai        | 5,8    | 1.94 |
|   | Trading Co.,Ltd                  |             | 10,380 |      |
+---+----------------------------------+-------------+--------+------+
| 9 | Ganaria International Corp       | British     | 5,7    | 1.93 |
|   |                                  |             | 98,000 |      |
+---+----------------------------------+-------------+--------+------+
| 1 | Sirinarang Co., Ltd.             | Thai        | 3,7    | 1.25 |
| 0 |                                  |             | 50,000 |      |
+---+----------------------------------+-------------+--------+------+

Note: There is no ultimate shareholder as per SET guidelines

Dividend Policy

The company would like to reiterate its dividend policy of paying
dividend between 20-35% of net profit after tax, however, the payment of
dividend will be based on its requirement of funds for CAPEX, expansion
projects , future growth plans and for investment in various other
projects. If payment of dividend will have effect on company’s
performance and cash flow requirements for its operations and for growth
plans and investments, the company will decide for payment of dividend
accordingly in the best interest of the company.