Public Comp. Regist.

1. Have a minimum of 15 promoters for the formation and registration of the Memorandum of Association

2. Have not less than half of the promoters domiciled in Thailand

3. Have the promoters’ subscribed shares, which will be paid up in money, equal to not less than 0.05 percent of the registered capital. These prescribed shares cannot be transferred within two years of the date of registration of the company, except with the consent of a general meeting of shareholders

4. Have a statutory meeting within two months from the date when the shares have been fully subscribed, as specified in the prospectus, but not more than six months from the date of approval of the memorandum by the registrar

5. Have a minimum of five directors, at least half of whom must be domiciled in Thailand

6. Ensure that the directors are 20 years of age or older, and they must have clean legal records

7. Have subscribers pay the full amount of each share

8. Not stipulate any provisions which would prevent shareholders from becoming directors of the company

9. Hold a meeting of the Board of Directors at least once every three months where a directors certificate must be obtained and the minutes must be recorded

10. Have an auditor present at all times when the balance sheet is submitted for adoption by general meeting of the shareholders

A private limited company may be transformed into a public limited company by passing a special resolution of the shareholders as stipulated by the Civil and Commercial Code.