Divestment of Shares in Lithium Americas Corp. (LAC)
Attention
:
President of the Stock Exchange of Thailand
Bangchak Corporation Public Company Limited ("the Company") would like to inform that the Board of Directors of the Company has passed the resolution on the approval of BCP Innovation Pte. Ltd. ("BCPI"), a subsidiary of the Company, to reduce its shareholding in Lithuim Americas Corp. ("LAC") which engages in the lithium mining business in Argentina and United States of America. LAC is a listed company in Toronto Stock Exchange (TSX), Canada and in The New York Stock Exchange (NYSE), United States of America. The initial investment of USD 36 million and the total value from divestment is approximately USD 136 million. The capital gain from this divestment will be recorded directly into the retained earnings, and will not be recognized through the income statement. Consequently, as of December 21, 2020, BCPI holds 0.5 million shares of LAC or approximately 0.5% of total share.
The reduction of shareholding percentage does not affect the Lithium Purchase Agreement (the right to purchase maximum of 6,000 tpa of Lithium battery-grade) from the Cauchari-Olaroz project.
The transaction is not a connected transaction, and the transaction size does not require disclosure under regulations on acquisition and disposition of assets of listed companies.
Please be informed accordingly.
Yours sincerely, - Signed -
(Mr. Chaiwat Kovavisarach) President and Chief Executive Officer
Investor Relations
Tel: 0 2335 8663
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original document
Permalink
Disclaimer
Bangchak Corporation pcl published this content on 22 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2020 02:18:01 UTC
Bangchak Corporation Public Company Limited is an energy company. The principal businesses of the Company are operating an oil refinery and marketing the finished products through its service stations under the Company’s brand. It is engaged in the production of biofuel, specifically biodiesel and ethanol. Its segments include Refinery and oil trading, Marketing, Electricity, Bio-based products, Natural resources, and Others. Its core business is petroleum refining to produce products from domestic and international sources. Its product groups include fuels, lubricants, feedstock for refineries and petrochemical plants, and by-products. The fuels group includes liquefied petroleum gas (LPG), gasoline and gasoline, jet fuels, high-speed diesel, and fuel oil. Lubricants include auto lubes, industrial lubricants, and grease. Its by-products include sulfur, solvents, and asphalt. Its feedstock for refineries and petrochemical plants includes straight-run fuel oil and unconverted oil.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
