TRUE GROUP NOTIFIES SET OF ITS DISAGREEMENT WITH NBTC’S RESOLUTION TO SEEK REMEDIAL PERIOD’S REVENUE SHARING OF AS HIGH AS 3,381.95 MILLION BAHT, STEPS FURTHER TO TAKE LEGAL ACTIONS
True Corporation Plc today submitted a notification letter to the Stock Exchange of Thailand (SET) to inform the key development on the NBTC meeting’s resolution to call for TrueMove to share revenue it generated during the remedial period as well as the dispute with TOT Plc concerning the provision of high speed internet (ADSL) service. The Company said it disagrees with the resolution of the NBTC’s meeting today (5 September 2018) to seek revenue sharing, worth 3,381.95 million baht, from TrueMove in providing services on the expired 1800MHz frequency concession during the remedial period, citing the reason that the revenue sharing is unrealistically high.
With regards to the dispute with TOT Plc’s request for penalty from their lack of revenue from high speed internet (ADSL) service, the Arbitral Tribunal ordered the Company yesterday (4 September 2018) to pay TOT cash penalty together with interests, the Company would like to inform that the case is yet to be finalized and will appeal to the Court for a withdrawal of the Arbitral Tribunal’s order.
