During the Meeting
Participants : The shareholders of GMM Grammy Public Company Limited
The Board of Directors (“the Board”) of GMM Grammy Public Company Limited (“the Company”) at its Meeting No.1/2015 to consider the following agendas:
Agenda 1 To consider approving the Statement of Financial Position and the Income Statement for the fiscal year ended December 31, 2014
The company has assigned the Audit Committee as announced to the meeting that the statement of financial position and statement of comprehensive income for the year ended December 31, 2014 were approved by the audit committee prior to submission to the Board. Such approval The Audit Committee has considered carefully and that the reports of the auditors. Financial Statements and Notes to the financial statements are complete and accurate information based on facts and have been prepared in accordance with generally accepted accounting standards has audited and certified by the auditors.
Agenda 2 To consider approving the omission of profit apportionment as statutory reserve fund from the 2014 operational results
The company has announced to the meeting that according to Section 116 of the Public Companies Act and the Articles of Association provides that "companies must allocate part of its annual net profit as reserve not less than 5 percent of its annual net profit less. With accumulated losses carried forward until the reserve is not less than 10 per cent of the share capital unless the company is a regulation or other law requires the reserve over it "for separate financial statements for the year 2014, the Company had operating results. 3,963 million baht net loss It can not be allocated to the legal reserve.