PTT vs RPC Still ongoing

This tit-tat David vs Goliath battle is still ongoing. If you remember we wrote something earlier here Quick Comment: RPC Plc

Its appears as though RPC’s management and shareholders want to fully payout all of their retained earnings thereby rendering PTT unable to collect on overdue payments, it’ll be quite interesting to see what the outcome of this will be.

Satja Janetumnugul, PTT’s chairman, said his company should have filed the injunction before RPC’s shareholders at an extraordinary meeting on May 11 approved the dividend of 98 satang a share or 498 million baht.

Mr Satja said the dividend is from retained earnings totalling 512 million baht. RPC had total assets of 3.5 billion baht on March 31 including a refinery and biodiesel facilities.

Source: Bangkok Post

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