Resolutions 2019 Annual General Meeting of Shareholders
10 April 2019

(Bangkok) – Star Petroleum Refining Public Company Limited (“SPRC”) conducted its 2019 Annual General Meeting of the Shareholders (AGM) today at the Grand ballroom, The Radisson Blue Plaza, Bangkok. 

The Shareholders of SPRC acknowledged 2018 Company’s operational and financial performance and approved non-payment of dividend from the net profit of 1 July to 31 December 2018. The amount of interim dividend payment for the first half of 2018 performance at Baht 0.5928 per share paid on 13 September 2018 exceeded the 2018 net profit.  This interim dividend payment is equivalent to 104% of the 2018 net profit.

Mr. Timothy A. Potter confirmed the scheduled shut down for maintenance of all its production units during November – December 2019. The duration of the shutdown will be in line with the previous shutdown in 2014. The maintenance activities will be to upgrade its facilities to improve efficiency, reliability and environmental, health and safety performance. This will enable SPRC to continue safe and reliable operation, process more crude types, extend the scheduled shut down period and maintain its 1st quartile in OA (Operation Availability) and UEDC (Utilization of Equivalence Distillation Capacity) among refineries in Asia Pacific and Indian Ocean region. In addition, the Company continues its previously announced Capacity Increase Project. The project will increase the capacity of its Crude Distillation Unit (CDU) and related downstream units from 165,000 barrels per day to 175,000 barrels per day.  The Company expects to generate additional benefit immediately after this project is finished in December 2019. 

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