Bangkok – BTS Group Holdings Public Company Limited (formerly Tanayong Public Company Limited) has completed listing of its 28,166.88 million new shares on the Stock Exchange of Thailand (SET) under Transportation and Logistics sector, Service industry. The new shares begin trading on the exchange today under the new trading ticker of “BTS”.

Mr. Keeree Kanjanapas, Chairman of BTS Group Holdings Public Company Limited (the Company), said referring to the Company’s acquisition of 15,022.33 million shares of Bangkok Mass Transit System Public Company Limited (BTSC) or 94.60% of BTSC’s total paid-up shares at the price of 2.665 baht apiece or 40,034.53 million baht totally, that the Company has already paid 20,655.71 million baht for the transaction in cash and issued 28,166.88 million new shares at 0.688 baht per share or a total of 19,378.81 million baht to pay for the remainder. The Company’s SET listing has been changed to Transportation and Logistics sector under Service industry and the new stock begins trading on the exchange on May 11, 2010 under a new trading ticker “BTS”.

Mr. Keeree added, “Following the acquisition of BTSC shares, the Company and its shareholders will benefits from the consistently strong performance and high growth potential of BTSC’s skytrain business while the expected increase in market capitalization and liquidity will make the shares more attractive to domestic and foreign institutional investors as well as retail investors. In addition, this transaction will enhance the Company’s competitiveness in real estate business by leveraging the Comapany’s experience in developing and managing real estate projects of BTSC.”

“After the acquisition,” he continued, “the Company will engage in 4 main businesses, namely (1) Mass Transit Business under the management of BTSC, such as BTS SkyTrain and BRT bus system, (2) Property Development Business under joint management of BTSC and the Company, including condominium, service apartment, and hotel projects along and beyond existing BTS route and its future extensions, (3) Advertising Space Business under the management of VGI Global Media Company Limited (VGI), covering management and merchandising of advertising space inside BTS trains and on the train body, advertising and business space on BTS stations, as well as advertising space in leading hypermarkets, and (4) Services Business, such as smartcard business under the management of Bangkok Smartcard System Company Limited (BSS), as well as hotel management and construction contracting.

“Under the new business structure, the Company will be blessed with the efficiency to achieve greater performance and at the same time meet the lifestyle needs of Bangkokians better and optimize benefits for the shareholders,” Mr. Keeree concluded.

The Company is currently in process to issue 20,446 million new shares via a rights offering (RO) at a ratio of 4 new shares for every 7 existing shares. The new shares will be offered at the price of 0.63 per share and the subscription will be open on business days from May 31 to June 7, 2010. In case of unsubscribed shares after the RO, the remainder will be offered via a private placement (PP). With full subscription of the RO and PP (if any) shares, the Company will receive total proceeds of approximately 12,000 million baht, which will be used to partially repay loan secured previously by the Company to finance the acquisition of BTSC’s shares. In addition, to provide an incentive for the RO and/or PP subscription, the Company will issue warrants at a ratio of 1 warrant for every 4 new shares subscribed. These warrants are offered at no charge and have a maturity of 3 years, exercisable from the second anniversary of issuance at 0.70 baht per share. Mr. Keeree and Mr. Kavin Kanjanapas have also expressed their intention to subscribe for their allocated portion in the RO to maintain their shareholding stakes in the Company.