Thai Union Public : Establishment of a New Joint Venture Company - Food and Beverage United Co., Ltd.
October 05, 2020 at 09:25 pm EDT
Share
Ref. 30/631005
6 October 2020
Subject: Establishment of a New Joint Venture Company - Food and Beverage United Co., Ltd.
Attention: President
The Stock Exchange of Thailand
Thai Union Group Public Company Limited (the "Company") would like to inform the Stock Exchange of Thailand (SET) in respect of the investment of Thai Union Ingredients Company Limited, a wholly owned- subsidiary of the Company into a new joint venture known as Food and Beverage United Company Limited.
Food and Beverage United Company Limited is a newly established company limited registered under the laws of Thailand for joint investment with BevTech Company Limited, detailed as follows:
The date on which the transaction occurred: October 2020
Details of investment
The Company by Executive Committee, which has authorities delegated from the Board of Director, approved Thai Union Ingredients Company Limited to investment by establishment of Food and Beverage United Company Limited. The details are follows:
Name of Company:
Food and Beverage United Co., Ltd.
Objective of
Joint investment and collaboration in relation to product development,
Incorporation:
production and distribution of nutritious food and beverage products under
brand or trademark of Food and Beverage United Co., Ltd.
Company Address:
20th Floor, Park Venture Ecoplex, 57 Wireless Road, Lumpini, Patumwan,
Bangkok 10330, Thailand
Date of Registration:
October 2020
Type of Business:
Manufacturing and Distribution
Registered Capital:
10,000,000 Baht which divided into 1,000,000 ordinary shares, with the
par value of 10 Baht per share.
Shareholding Structure:
1.
BevTech Company Limited holds 509,999 shares (50.9999%)
2.
Thai Union Ingredients Company Limited holds 490,000 shares (49%)
3.
Thai Drinks Company Limited holds 1 share (0.0001%)
Board of Director:
1.
Mr. Pramoad Phornprapha (Independent Director)
2.
Mr. Thapana Sirivadhanabhakdi
3.
Mr. Thiraphong Chansiri
4.
Dr. Tunyawat Kasemsuwan
5.
Mr. Danai Kramgomut
บริษัท ไทยยูเนี่ยน กรุ๊ป จ ำกัด (มหำชน)
Source of Funds
Cash from the Company's working capital.
Connected Nature
BevTech Company Limited and Thai Drinks Company Limited are not a connected person of the Company, and therefore, the investment to establish an associated company is not the connected transactions in accordance with the Notification of Capital Market Supervisory Board No. TorChor. 21/2551.
Size of Transaction
The size of this investment of 49% shares in the established associated company was 0.003% of the total assets value of the Company (as of 30 June 2020). The aggregate purchase price of all acquisitions of assets made during 6 months is less than 15% of the Company's total assets value. Therefore, this acquisition of the assets shall not require mandatory public disclosure under the Notification of Capital Market Supervisory Board No. TorChor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets and Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets B.E. 2547.
Executive Committee' opinion in relation to the transaction
The Executive Committee remarks that investment in Food and Beverage United Co., Ltd., which is demonstrated as aforementioned, is appropriate and benefits to the company which can increase revenue and profits to the group companies.
Please be informed accordingly and consider further dissemination to investors.
Respectfully yours,
Thai Union Group Public Company Limited
Mr. Thiraphong Chansiri, Director
Mr. Chuan Tangchansiri, Director
บริษัท ไทยยูเนี่ยน กรุ๊ป จ ำกัด (มหำชน)
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original document
Permalink
Disclaimer
Thai Union Group pcl published this content on 06 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2020 01:24:07 UTC
Thai Union Group Public Company Limited is a Thailand-based company. The principal activities of the Company and its Thai subsidiaries are the manufacture and sale of frozen, chilled and canned seafood. The Companyâs some Thai subsidiaries are also engaged in packaging, printing, pet food, food ingredients and food supplemental businesses. Its subsidiaries in the United States distribute pet food, lobster, and other seafood products and import shrimp and other frozen seafood products for sale to restaurant chains, retailers and wholesalers. Its subsidiaries in Europe manufacture and distribute ambient and chilled seafood products to countries in Europe, the United States and Australia under their trademarks. Its subsidiaries in Asia manufacture and distribute seafood in Vietnam and China. The Company has 17 branches in Bangkok and Samutsakorn. Its segments include ambient seafood, frozen and chilled seafood and related businesses, pet food, and value-added and other businesses.
THAI UNION GROUP 
