Bangchak : The Acquisition of WINNONIE Company Limited and The Establishment of New Subsidiary Company
March 25, 2021 at 06:59 am EDT
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-TRANSLATION-
No. 10000/018/2021
March 25, 2021
Subject : The Acquisition of WINNONIE Company Limited and The Establishment of New Subsidiary Company Attention : President of the Stock Exchange of Thailand
Bangchak Corporation Public Company Limited (the "Company") would like to inform as follows:
1. BCV Innovation Company Limited (a wholly owned subsidiary of the Company) has entered into a share purchase agreement to acquire 99.8% common shares of WINNONIE Company Limited (WINNONIE). The transaction is valued at 50,000,000 Baht. WINNONIE engages in electric motorcycles and battery replacement services, including related businesses that align with the Company's goal, leadership in green energy innovator. The transaction is expected to be completed in April 2021.
This transaction is not a connected transaction and the transaction size does not require any disclosure under regulations on acquisition and disposition of assets of the listed companies. However, this is a report that a listed company or its subsidiary company acquires or disposes of an investment in another company, which results in that other company becoming or ceasing to be a subsidiary company of the listed company or its subsidiary company. Therefore, this transaction will result that WINNONIE Company Limited is a subsidiary of the Company.
2. At its meeting No. 3/ 2021 held on Thursday, March 25, 2021, the Board of Directors of the Company resolved to approve the establishment of new subsidiary company, with the following details:
• Name: General Energy Manning Co., Ltd.
• Objectives: To operate the business of recruitment and human resource management
• Registered Capital: 1,000,000 Baht
• % of Shareholding: The Company holds 49% shares Population and Community Development Association (PDA) holds 51% shares
• Number of Directors: Three representative directors of five total directors
• Source of Fund: Working capital of the Company
Please be informed accordingly.
Yours sincerely, -signed-
(Mr. Chaiwat Kovavisarach)
President and Chief Executive Officer
Investor Relations Division
Tel. 0 2335 8663
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Bangchak Corporation pcl published this content on 25 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2021 10:58:06 UTC.
Bangchak Corporation Public Company Limited is a Thailand-based energy company, which operates in tandem with socio-environmental responsibility. The Companyâs segments include Refinery and oil trading, Marketing, Electricity, Bio-based product, Natural resources, BSRC and Others. Its core business is petroleum refining to produce products from domestic and international sources operated by two complex refineries, with a production capacity of nearly 300,000 barrels per day, Bangchak Phra Khanong Refinery in Bangkok and Bangchak Sriracha in Chonburi province. It produces and distributes its products through more than 2,000 service stations nationwide. It has expanded its businesses to oil trading, green power, bio-based products, and natural resources and business development. It conducts a bio-based products business, including biodiesel and ethanol. Its products include Low Sulfur Fuel Oil, Unconverted Oil (UCO), JET Fuel, Diesel Base Fuel, liquefied petroleum gas (LPG) and others.