(Translation)
RATCH 114/2020
12 March 2020
Subject: | Signing of Share Purchase Agreement to Invest in SPP Power Plant Project in Rayong Province |
Attention: | President of the Stock Exchange of Thailand |
RATCH Group Public Company Limited (the "Company") would like to announce that on 12 March 2020, the Company has entered into Share Purchase Agreement to purchase 49 percent of ordinary shares of NER Singapore Pte. Ltd., totaling approximately USD 21million (equivalent to approximately Baht 662 million) from Nexif Energy Thailand B.V., the existing shareholder who is not a connected person to the Company. The purpose of such investment is to develop Nexif Energy Rayong SPP Power Project.
Nexif Energy Rayong SPP Power Project is a firm-cogeneration small power producer power plant project with the capacity of 92 megawatts, using natural gas as fuel. It is operated by Nexif Energy Rayong Company Limited (a wholly-owned subsidiary of NER Singapore Pte. Ltd), located in SSP Industrial Park, Bankhai District, Rayong Province. It has a 25 -year power purchase agreement with Electricity Generating Authority of Thailand. The commercial operation date is expected to be approximately in April 2022. Such investment is in line with the investment plan of the Company's Group and it would also gain a new business partner who has an opportunity to jointly invest in power business and related business in the future.
The transaction is not a connected transaction and the transaction does not require the application of the rules and regulations on the acquisition or disposition of assets of listed company.
Please be informed accordingly.
Sincerely yours,
(Mr. Kijja Sripatthangkura)
Chief Executive Officer
Company Secretary Office
Tel. + 66 2794 9510
Fax. +66 2794 9888 Ext. 9510
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Ratchaburi Electricity Generating Holding pcl published this content on 12 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2020 11:15:27 UTC