Noble Development Public : Notification of the Cessation of Subsidiary Status
June 29, 2022 at 09:49 am EDT
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June 29, 2022
Subject
Notification of the Cessation of Subsidiary Status
To
President
The Stock Exchange of Thailand
Noble Development Public Company Limited (the "Company") would like to inform that the Company sold the investment in RC Area Co., Ltd., the subsidiary of the Company, according to the resolution of the Company's Board of Directors meeting. The details are as follows:
Date of transaction
: June 29, 2022
Details of the assets
: Ordinary shares of RC Area Co., Ltd. totaling 1,000 ordinary shares,
and claims on shareholder loan
(Registered and paid-up share capital of Baht 100,000, held by
the Company accounted for 99.80%)
Buyer
: BTS Group Holdings Public Company Limited
Relationship between the buyer
: The buyer is the 8.40% shareholder of the Company
and the Company
(information as at May 10, 2022), which is not classified as a
connected person.
Total value of consideration
: Baht 199,000,000 (One Hundred and Ninety-Nine Million Baht)
Impact on the Company's
: None
operations or financial position
This transaction is not classified as a connected transaction as defined under the notification of the Capital Market Supervisory Board No. TorJor. 21/ 2551 Re: Rules on Connected Transactions dated August 31, 2008 (as amended) and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Connected Transactions dated November 19, 2003 (as amended). Upon consolidating the investment value at this time with the value of asset disposition during the past 6 months, the transaction size is less than 15%, which is not regarded as the transaction to be disclosed pursuant to Notification of the Capital Market Supervisory Board No. TorJor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets dated August 31, 2008 (as amended) and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 dated October 29, 2004 (as amended). However, such disposition of investment causes RC Area Co., Ltd. to cease from the Company's subsidiary status.
Noble Development Public Company Limited NOBLE Building, 1035 Ploenchit Road, Pathumwan, Bangkok 10330 Tel. (66 2) 251-9955 Fax. (66 2) 251-9977
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Noble Development pcl published this content on 29 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2022 13:48:10 UTC.
Noble Development Public Company Limited is a real estate project developer. The principal business operations of the Company and its subsidiaries are development of real estate for sale, providing construction, rental and service, and construction consulting services in Thailand. Its segments include condominium, house and land, rental and service business, and others. Its projects consist of single detached house, condominium, townhouse, and land plot. The single detached house projects include Noble Tara Ekamai-Rama 9, Noble Tara Ngamwongwan, Noble Tara Pattanakarn, Noble Tara Ngamwongwan 2, Noble Wana Pinklao, Noble Wana Watcharapol, and others. The condominium projects are in city center and areas along the BTS infrastructure, including Noble Ora Condo, Noble Lite, Noble 09, Noble Ambience Sarasin, Noble Remix, Noble Solo, and others. Besides the residential projects, the Company also operates other businesses that are core business-related, such as property rental and others.
NOBLE DEVELOPMENT 
