GPSC announces the postponement of the 2020 Shareholders’ Annual General Meeting (AGM) which was previously scheduled on April 1, 2020 until further determines the new date to avoid the impact of the COVID-19 pandemic according to government policy, but still announces dividend payment of THB 0.80 per share to its shareholders as previously scheduled on April 17, 2020 together with Precautionary Measures for all operation units to ensure the power and infrastructure stability to serve customer’s demand.
Mr. Chawalit Tippawanich, President and Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, reveals that, the Board of Directors has resolved to approve the postponement of the 2020 AGM which was previously scheduled on April 1, 2020 until the spread of COVID-19 outbreak will return to normal and remain the excluding dividend (XD) date at the same schedule as previously notified and the right to receive dividend (Record Date) of the second half of the year 2019 for shareholders benefits.
The Board of Directors has approved the interim dividend payment No. 2 from the operating results for the second half of the year 2019 according to the financial statements for the year ended on December 31, 2019 which was audited by the company’s auditor at THB 0.80 per share totaling THB 2,255,783,493.60, and the interim dividend payment will be paid on April 17, 2020. Such this interim dividend payment when combine with the interim dividend payment for the first haft of the year 2019 (January 1 – June 30, 2019) at THB 0.50 per share, the total dividend that company will pay from the operating results of the company and its subsidiaries for the year 2019 at the rate of THB 1.30 per share, totaling THB 3,004,933,893.60.
Regarding the interim dividend payment as mentioned, the Board of Directors will pay the interim dividend to the shareholders who are entitled to receive the dividend payment on Record Date on February 27, 2020 and the Board of Directors will propose not to pay any other dividend payment for the company's operating results for the year 2019. However, such postponement does not cause significant impact to the company’s business operation as when the COVID-19 pandemic will return to normal, the Board of Directors will promptly determine the new date of the 2020 AGM as well as the agenda of 2020 AGM and then notify to the shareholders.
Mr. Chawalit said the company has cooperated with the government policy to reduce the risk of COVID-19 outbreak by imposing measures such as preparing special controlled workplaces (safe houses) for operators and necessary employees, providing screening and imposed regulation to prohibit unauthorized persons enter into the production process areas and power plant control rooms to prevent and reduce the possibility of infection of COVID-19. Moreover, the company has implement “Work from home policy” for supporting function employees to work at the residence etc. in order to secure power generation and utility systems to work continuously under unusual situations from COVID-19.
“Surveillance measures for this pandemic, which the company has strictly implemented, plays an important role in establishing power and utility system stability to meet the demand of customers. In addition, the company has also prepared the Business Continuity Plans (BCP) to give confidence that the company will be able to manage and continually operate production, without any interruption, and will be able to resume to normal operation within a short period of time”, said Mr. Chawalit.