Eastern Power Group Public Company Limited (EP) revealed that the Board of Directors’ meeting resolved to approve Eastern Cogeneration Company Limited (E-COGEN) to purchase ordinary shares. of the company TAC Energy Company Limited (TAC) of 9,472,400 shares (par value of 100.00 baht per share), representing 47.60 percent of the total paid-up shares of TAC from Chubu Electric Co., Ltd. Power Thailand SPPB.V. Co., Ltd. (CHUBU) at the price of 199.00 baht per share, the total amount of 1,885,007,600 baht
In this regard, TAC operates its business by holding shares in companies that produce and sell electricity from cogeneration power. TAC holds 7,420,000 shares in PPTC Company Limited (PPTC), representing 50% of the paid-up registered capital. and holding shares in SSUT Company Limited (SSUT) amounting to 11,676,000 shares, representing 40%
After entering into the transaction, the Company will have direct and indirect holdings in PPTC Company Limited (PPTC) and SSUT Company Limited (SSUT) through E-COGEN as follows:
(1) Holding shares in PPTC
- Indirectly held through TAC in the proportion of 50.00% of the paid-up shares
- Directly hold 24.50% of the paid-up shares
- Total holdings in PPTC are 74.50% of the paid-up shares.
(2) holding shares in SSUT
- Indirectly held through TAC in the proportion of 40.00% of the paid-up shares
- Held indirectly through THAT SIRI Company Limited (THAT SIRI) 20.00% of paid-up shares
- Directly hold 40.00% of paid-up shares
- Total shareholding in SSUT is 100.00% of the paid-up shares.
Expected Benefits to the Company to increase the shareholding in the small power plant business Combined heat system (Cogeneration) is PPTC and SSUT, whereby the Company will have control over TAC to increase to 100% of the paid-up shares. As a result, it has total management power in SSUT and its shareholding in PPTC has increased to 74.50% of the paid-up shares. and to expand investments in existing businesses that already have expertise and experience The company will have more income from selling electricity and steam. to promote the company have stable and continuous profits in the future
By InfoQuest News Agency (18 Oct. 64)
Tags: EP, Thai stocks, Eastern Power Group, Eastern Cogeneration