Copperwired Public Company Limited (SET:CPW) agreed to acquire Business and Assets from Business and Assets from IBIZ Plus Network Co., Ltd. for THB 1 billion on July 27, 2021. The consideration will be paid in four instalments and will not exceed TBH 1 billion. The first instalment of THB 200 million will be paid in cash. The second instalment of THB 133.33 million will be paid in 2023; the third instalment of THB 183.33 million will be in paid 2024; and the fourth instalment of THB 483.34 million will be paid in 2025. The second, third, and fourth instalments will be paid in shares of Copperwired and will not exceed approximately 31.58 million shares with the remaining amount in each instalment being paid in cash. The consideration will be calculated based on the yearly average of net profits after tax actually earned in 2022 to 2024. The acquisition includes transfer of retail shops under the brands of AIS, Telewiz, Buddy, Samsung and Xiaomi, totaling not more than 56 shops, including assets of the shop business such as inventories, trial products, shop furnishings, any other assets necessary for the operation of the shop business, and related wholesale business (collectively called “Business”). The transaction will be financed from borrowing from financial institutions and/or cash flow from its operation. Copperwired is in the negotiation process with financial institutions for loans of not more than THB 200 million to cover the payment of the first instalment. After completion of the transfer of the Business, the Promoters will continue to manage the Business jointly with the representatives appointed by the Company for a period of at least two years from the date of completion of payment of the Consideration by the Company. The transaction is subject to shareholders approval. The transaction has been approved by the board of directors. The Group will enter into the acquisition transaction after the approval of the Extraordinary General Meeting of Shareholders No. 1/2021 on September 14, 2021. The Group expecting that the transfer of the business and assets will be completed within the fourth quarter of 2021. Advisory Plus Co., Ltd. acted as financial advisor and fairness opinion provider to Copperwired. Copperwired Public Company Limited (SET:CPW) acquired Business and Assets from Business and Assets from IBIZ Plus Network Co., Ltd. on October 1, 2021. The first installment of approximately THB 200 million have been paid. The transaction has been approved by the shareholders on September 14, 2021.