Anant Asavabhokhin cancelled the acquisition of 10% stake in Land and Houses Public Company Limited (SET:LH).
June 20, 2019
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Anant Asavabhokhin offered to acquire 10% stake in Land and Houses Public Company Limited (SET:LH) for THB 14.1 billion on June 21, 2018. A total of 1.19 billion shares will be acquired for THB 11.8 per share. Prior to the transaction, Anant and his related parties own 23.93% stake in Land and Houses Public Company which will increase to 33.93% after the deal. Siam Commercial Bank Public Co.,Ltd will provide financial support for the deal.
There will be no changes of directors, except for the change of the new directors to replace those who retired by rotation. The tender offer needs to be approved by 50% of the shareholders of Land and Houses Public Company Limited at the Extraordinary Shareholders Meeting to be held on August 7, 2018. Other conditions include office of the Securities and Exchange Commission approving a waiver application for Anant's voluntary partial tender offer and Anant obtaining approval from financial institutions to fully use his credit limits for the voluntary partial tender offer. Also, as a condition to the offer it was decided, that if the total number of tendered shares is less than the number of shares intended to be purchased, Anant will purchase all the tendered shares. If the total number of tendered shares exceeds the number of shares intended to be purchased, Anant will purchase only 1.19 billion shares on pro-rata basis. Board of Land and Houses Public Company Limited approved the deal.
Anant Asavabhokhin cancelled the acquisition of 10% stake in Land and Houses Public Company Limited (SET:LH) on June 21, 2019.
Land and Houses Public Company Limited is a Thailand-based company, which is principally engaged in property development. The Company operates through two segments: Real estate business, and Rental and service business. Real estate business segment consists of houses, townhouses and residence condominium projects for sale. Rental and service business segment consists of shopping mall, apartment for rent, hotel and project management. The principal business of the Company is residential housing development, concentrating particularly on single detached houses. The Company mostly develops in the Greater Bangkok and its vicinities, and in other cities in Thailand, including Chiang Mai, Chiang Rai, Khon Kaen, Nakhonratchasima, Udonthani, HuaHin, Phuket, Mahasarakham and Ayuthaya. Its projects include inizio Suksawat-Prachauthit, inizio bangna, Villaggio Srinakarin, Villaggio Bangyai, Villaggio Rangsit Khlong 2, Villaggio 2 srinakarin-bangna, Villaggio Phet Kasem - Sai 4 and other.