The Board of Directors Meeting of IRPC Public Company Limited (the "Company") No.12/2016 held on 20 December 2016 passed the resolution to grant an approval to enter into Inter-Company Borrowing and Lending ("ICBL") contract between the Company and PTT Public Company Limited ("PTT") according to the company's SET notification as aforementioned in order to optimally manage the Company's short-term liquidity.
To maintain optimal short-term liquidity management, the Company and PTT renewed the ICBL contract on 20 December 2021 (the latest ICBL contract expired on 19 December 2021). Note that the renewal of the contract was performed under the management 's authority delegated from the Board of Directors according to the aforementioned resolution of the Board of Directors Meeting . This renewal contract is deemed a connected transaction relating to providing and /or obtaining financial assistance as PTT is the company's major shareholder. The Company hereby discloses the details of the transaction as follows:
Transaction Date
20 December 2021
Related Parties and
PTT, a major shareholder of the Company
Relationship
Connected Transaction
Obtaining Financial Assistance
Providing Financial Assistance
Type
Short-term borrowing
Short-term lending
Facility Type
Uncommitted Unsecured Short-Term Loan
Currency
THB or USD, upon the mutual agreement between both parties
Contract Period
Less than 1 Year (20 December 2021 to 19 December 2022)
The Total Connected
Obtaining Financial Assistance
Providing Financial Assistance
Transaction Value and
Basis for Calculation of
Calculated from annual interest
Calculated from principle and
the Connected
expense
annual interest income
Transaction Value
Total amount not exceeding
Total amount not exceeding
Baht 10,000 million
Baht 1,500 million
The total connected transactions is
less than 3% of the Company's Net
Tangible Assets - NTA as of 30 September 2021.
In this regard, if include the other connected transactions made six
months prior to this transaction, the total connected transactions is less
than 3% of NTA.
Interest Rate
Interest rate based on market rate
Interest rate based on market rate
by considering on the return on
by considering on the return on
investment which lender received
investment which lender received
from other investment, the interest
from other investment, the interest
rates for short-term loans from
rates for short-term loans from
financial institutions, credit rating
financial institutions, credit rating
of borrower, finance costs and
of borrower, finance costs and
other relevant risks. With the
other relevant risks. With the
interest rate at Bangkok Interbank
interest rate at Bangkok Interbank
Offered Rate: BIBOR (Borrowing
Offered Rate: BIBOR (Borrowing
rate on THB) or London Interbank
rate on THB) or London Interbank
Offered Rate: LIBOR (Borrowing
Offered Rate: LIBOR (Borrowing
rate on USD) or appropriate
rate on USD) or appropriate
interest rate in the case of market
interest rate in the case of market
disruption.
disruption.
Please be informed accordingly.
Yours sincerely,
(Mr. Chawalit Tippawanich)
President and Chief Executive Officer
Finance & Investor Relations Department
Tel. 02-765-7380
Fax.02-765-7379
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IRPC pcl published this content on 20 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2021 10:19:08 UTC.
IRPC Public Company Limited is a Thailand-based integrated petrochemical company. The Company is principally engaged in the petroleum and petrochemical business with its products being refineries, lubricants, olefins, aromatics, plastic resins, and other petrochemical products. The Companyâs segments include petroleum products, petrochemical products, and other businesses. The petroleum products segment produces and sells refinery, lubricant, and asphalt. The petrochemical products segment produces and sells olefins, aromatics, and related products, including special products. The other businesses segment includes power plant, jetty, and other utilities. The Company operates a refinery and petrochemical complex in Rayong. Its main facilities are located within the IRPC Industrial Park, which features the infrastructure needed for its business, including a deep-sea port, an oil depot, and a power plant. Its refinery has a total capacity of approximately 215,000 barrels per day (bpd).