The purchase of land to develop the project

BackJul 12, 2007

LPN/IR10/50

July 12, 2007

Subject : The purchase of land to develop Lumpini Ville Prachachuen - Pongpetch Project

Attention : The Director and Manager The Stock Exchange of Thailand

L.P.N. Development Public Co., Ltd. would like to inform you of our purchase of land for developing project with the following details:

Purchase of land for developing Lumpini Ville Prachachuen - Pongpetch Project

1. Date of transaction : July 5, 2007
2. Contracted parties : Juristic Person with no related benefit with the Company
3. Details of the land : 3.1 A land title deed no. : 90, 229336, 229337, 229338 and 229339
3.2 Total area : 7 Rai 3 Ngan 83.8 sq.wah
3.3 Location : Tambon Bangkhen (Lardtanod), Bangkhen Amphur Muang Nonthaburi (Taladkhwan) Nontaburi
3.4 Landscape : Vacant Land
3.5 Obligation : None
4. Total price : 155,000,000 Baht (One hundred Fifty Five Million Baht only)
5. Payment : All Payment was made on the day of ownership transference
6. Sources of fund : Profit from the operation of the Company and financial institution.
7. Benefits on the listed company : 7.1 The Company will develop this plot of land into 2 buildings consisting of 29 stories residential condominium
7.2 Total units are 1,680
7.3 Approximate total revenue of the project is Baht 2,000 million
7.4 Project will be completed in 18 months (August 2007 - January 2008)
7.5 Selling period is within 12 months (August 2007 - July 2008)
7.6 Starting to transfer the ownership right and recognize income on March 2008
7.7 Approximate gross and net profit before tax are 30% and 20% respectively

7.8 Transaction size : By using assets criteria is equal to

= (155.00 x 100)/ 7,076.36

= 2.19 %

 

Yours sincerely,

 

(Opas Sripayak)
Managing Director


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