Saha-Union Public Company Limited or SUC revealed that the Board of Directors Meeting No. 10/2564 held on October 21, 2011 approved the Company to make a tender offer for ordinary shares and preferred shares that are not held. all of the company Union Textile Industry Public Company Limited or UT in general
which is 29,419,460 ordinary shares and 651,340 preference shares, including 30,070,800 ordinary and non-held shares, or equivalent to 50.12% of the total issued and paid-up shares of UT, for the delisting of UT’s ordinary shares. from being listed on the Stock Exchange of Thailand (SET) voluntarily
The Company offers to purchase ordinary shares at the price of 38.35 baht per share and preferred shares at the price of 48.15 baht per share. The offering price has been assessed by the Company’s financial advisor, Fin Plus Advisory Co., Ltd., which is an advisor. financial Approved by the Securities and Exchange Commission which the Company considers to be the price Fair price not lower than the highest price calculated in accordance with the rules of the Notification of the Capital Market Supervisory Board No. TorSor.12/2554
The offering price for such shares may be adjusted. under the conditions which will be specified in the tender offer In the event of any event or action which causes or may cause serious damage to the status or the assets of UT, where such events or actions are not caused by the actions of the Offeror or Actions that the Offeror is responsible for
This is because UT, a subsidiary of SUC, has ceased its textile business. which is the main business and in the process of recruiting new businesses when there is no revenue from the textile business and there is no main business to continue Consequently, UT’s common shares are subject to delisting from the Stock Exchange of Thailand. stock marketthe
Therefore, SUC, which is a major shareholder Holds 29,929,200 ordinary and preferred shares of UT, or 49.88 percent of the total issued shares. Therefore, it wishes to give UT shareholders an opportunity to consider selling UT’s ordinary shares and preference shares in order to delist UT’s ordinary shares from being listed on the Stock Exchange of Thailand. SEC voluntarily
The Company will make a tender offer for all such ordinary and preferred shares. to delist UT’s ordinary shares from being listed on the SET after the following conditions have been fulfilled.
1) UT’s shareholders’ meeting resolved to approve the delisting of UT’s ordinary shares from being Securities listed on the Stock Exchange of Thailand with a vote of not less than three-fourths of the total issued shares of UT and no shareholder objecting to the delisting of UT’s securities in excess of 10 percent of the total issued shares of UT; and
2) The SET and/or related agencies have approved the delisting of UT’s ordinary shares from being listed on the SET.
