(Translation)
CA 013/2022
10 August 2022
Subject: Notification of the of the Board of Directors Resolution on Additional Investment in the Company's Joint Venture in the Philippines
To: | The President |
The Stock Exchange of Thailand |
Malee Group Public Company Limited (the "Company") would like to inform that the Board of Directors' Meeting has resolved to increase the Company's investment in its joint venture, Monde Malee Beverage Corporation ("MMBC") that operates an import and distribution business for Malee's products and new products in Philippines with the following details:
Existing | New | |||
Shareholding Structure | 1. Malee Group Plc. | 49% | 1. Malee Group Plc. | 49% |
(Unchanged) | 2. Monde Nissin Corporation, | 2. Monde Nissin Corporation, | ||
Philippines | 49% | Philippines | 49% | |
3. Thai Individual Investor | 2% | 3. Thai Individual Investor | 2% | |
Registered Capital | PHP 400 million | PHP 400 million | ||
(Unchanged) | Consisting of 2,000,000 ordinary shares | Consisting of 2,000,000 ordinary shares | ||
Par Value of PHP 200 | Par Value of PHP 200 | |||
Paid-up Capital | PHP 300 million | PHP 340 million | ||
(Changed) | Consisting of 1,500,000 ordinary shares | Consisting of 1,700,000 ordinary shares | ||
Par Value of PHP 200 | Par Value of PHP 200 | |||
The Company's | PHP 147.0 million | PHP 166.6 million | ||
Investment Amount | (THB 99.4 million) | (THB 112.0 million) | ||
(Changed) | ||||
Transaction Date | In August 2022 | |||
Source of Funds | Cash flow from operations of the Company. | |||
Expected Benefit | To pay off all outstanding debts and used as working capital for joint venture | |||
business. | ||||
Size of the Transaction The said transaction is a capital increase in proportion to the existing shareholding, which does not in accordance the criteria for acquiring or disposing of significant assets in according to the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand in any way.
In this regard, the above transaction is the co-investment with another company which is not related persons of the Company pursuant to the Notification of the Capital Market Supervisory Board Re: The Rules on Connected Transactions and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: The Disclosure of Information and Other Acts of Listed Companies Concerning the Connected Transactions.
Please be informed accordingly
Yours sincerely,
--Signed--
(Mr.Paitoon Eiamsirikulmit)
Company Secretary
Malee Group Public Company Limited
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Malee Group pcl published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 12:09:55 UTC.