Nation Broadcasting Corporation Public Company Limited enter into the share purchase agreement to acquire Green Net 1282 Company Limited from News Network Corporation Public Company Limited, Ekachai Chaicherdchukit and Pipat Chanasongkram for THB 250 million.

Nation Broadcasting Corporation Public Company Limited (SET:NBC) enter into the share purchase agreement to acquire Green Net 1282 Company Limited from News Network Corporation Public Company Limited (SET:NEWS), Ekachai Chaicherdchukit and Pipat Chanasongkram for THB 250 million on May 22, 2020. The consideration will be paid through issuance of 189,997 ordinary shares of Nation Broadcasting Corporation valued at approximately THB 165 million and the obligation to pay outstanding debt including interest according to the agreement of Green Net 1282's acknowledgement of debt agreement value THB 85.6 million which NBC will pay to the News Network Corporation Public Company Limited. News Network Corporation Public Company Limited currently holds 189,997 shares equivalent to 99.9984%, Ekachai Chaicherdchukit and Pipat Chanasongkram respectively holds 2 shares equivalent to 0.0011% and 1 share equivalent to 0.0005% in Green Net 1282 Company Limited.

Post completion, Nation Broadcasting Corporation Public Company Limited will hold 99.9984% and two other NBC designated person will hold 0.0011% and 0.0005% respectively. Green Net 1282 Company reported revenue of THB 63.66 million, operating loss of THB 49.20 million, net loss of THB 51.52 million, total assets of THB 39.94 million, negative EBITDA of THB 38.78 million and total shareholder's liability of THB 36.34 million for the year ending 2019. Board of Nation Broadcasting Corporation Public Company and News Network Corporation Public Company Limited approved the transaction on May 22, 2020.

The shareholders of Nation Broadcasting Corporation Public Company approved the transaction to issue consideration share to selling shareholders in the transaction. On October 29, 2020, shareholders of Nation Broadcasting Corporation Public Company Limited approved the acquisition. The transaction is expected to get closed on November 19, 2020.

The proceeds from the sale shall be used to pay as the consideration for the sale and purchase price of shares and right of claim in the loan of Wealth Ventures Company Limited or to use it as a working capital of the group company or to expand the business according to the diversification plan. Welcap Advisory Company Limited acted as a financial advisor for News Network Corporation Public Company Limited.