Stock news 2:57 pm 2023-12-30
Sabai Technology Public Company Limited (SABUY) disclosed that the Company’s Board of Directors meeting No. 3/2023, held on March 1, 2023, approved the investment in the ordinary shares of Singer Thailand Public Company Limited (SINGER) 87,951,300 additional shares with a par value of 1 baht per share at an average price of no more than 27 baht per share, or equivalent to no more than 10.70 percent of the paid-up shares. Through the trading board of the Stock Exchange of Thailand and notified the approval results of the shareholders’ meeting according to the company’s news dated 26 April 2023. It is planned to be completed by December 2023, but due to the changing conditions of the capital market Performance that does not meet expectations And there are factors fundamental that has changed in the last period. Therefore, the company has not yet proceeded with the investment. Will request cancellation to the Board of Directors and / or the meeting of the shareholders according to the next steps.
And according to the Extraordinary General Meeting of Shareholders No. 1/2023 of the Company held on Wednesday, June 1, 2023, it was decided that the Investment Company in all ordinary shares of PCL. Asphere Innovations (AS) by making a conditional voluntary tender offer. Making a Conditional Voluntary Tender Offer One of the conditions for making this tender offer is that the Company receives sufficient lines of credit from financial institutions to be used as a source of funds for making a tender offer for AS securities, which have r the terms and conditions of the credit limit as the Company deems appropriate, and the Company has notified consent to take action which is considered to have an effect on the tender offer for the business securities (AntiTakeover) according to Company news dated July 3, 2023
The time frame for investment is 1 year from the date of shareholder approval. Currently, the company is still in the process of acquiring lines of credit from financial institutions, the Company has submitted information and details to various financial institutions. In order to provide a line of credit sufficient to undertake transactions on
Appropriate conditions consistent with the Company’s position The documents have been submitted to the country’s financial institution.
For foreign financial institutions Still in the loan consideration process It is expected that the results of the consideration will be known within the 1st quarter of 2024.
However, if the company The process of acquiring credit lines is complete. is presented to the Board of Directors Determine the final entry price (“Final Price”) in accordance with the framework approved by the decision of the shareholders’ meeting. And after all conditions precedent have been met, the Company will make a tender offer to purchase AS securities from each AS warrant holder in accordance with the criteria set by the SEC and/or the Capital Market Supervisory Board.
By InfoQuest News Agency (30 Dec ’23)
Tags: SABUY , CANWR , Sabai Technology , Thai stocks
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