Prime Road Power Public : Establishment of Subsidiary
July 14, 2022 at 10:14 am EDT
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(Translation)
Ref: PRIME009/2565
14 July 2022
Subject: Establishment of Subsidiary
To: President
The Stock Exchange of Thailand
Prime Road Power Public Company Limited ( the " Company") would like to notify that the Board of Directors' Meeting No. 8/2022 held on 14 July 2022, has resolved to approve the establishment of new subsidiary. The details are as follows:
Established Company's Name
Prime Solar Alternative (Cambodia) 1 Co., Ltd. ("PSAC 1")
or other name which can be finally registered
Applicable law for registration
Cambodia
Registration Date
Within Quarter 3 of 2022
Type of Business
Renewable Energy Consulting Business, General Investment
Business and international trade industry
Investment Objectives
To invest in the renewable energy business
Registered Capital
USD 1,000 Divided into 1,000 ordinary shares with a par value of
USD 1 each
Shareholding Structure
• Prime Road Group Company Limited (99.98% subsidiary of the
Company) holds 91% of shares of PSAC
• Shareholders holds 9% of shares as follows;
MR. YIN SOTAPANHA holds 5% of shares
MR. NGUON MUNIROTH holds 4% of shares
Director Structure
1. Mr. Somprasong Panjalak
2. Mr. Surachet Chaipatamanont
3. MR. YIN SOTAPANHA
4. In the process of selecting
5. In the process of selecting
Source of Fund
Internal cash flow of the Company
The establishment of new subsidiary is not a connected transaction. The Company has also calculated the size of this transaction in accordance with the Notification of the Capital Market Supervisory Board No. TorJor. 20/ 2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposition of Assets (as amended) and Notification of the Board of Governors Re: Disclosure of Information
1
บริษัท ไพร์ม โรด เพาเวอร์ จ ากัด (มหาชน) เลขที่ 1 อาคารที พี แอนด์ ที ชั้น 22 ซอยวิภาวดีรังสิต 19 ถนนวิภาวดีรังสิตเขตจตุจักรรุงเทพมหานครก แขวงจตุจักร10900 Prime Road Power Public Company Limited, 1, TP&T Tower, 22nd Floor, Soi Vibhavadi Rangsit 19, Vibhavadi Rangsit Road, Chatuchak, Chatuchak, Bangkok, 10900
and Other Acts of Listed Companies Concerning the Acquisition or Disposition of Assets B. E.2547 (as amended). It is found that the transaction size is not subject to any disclosure under regulations on acquisition and disposition of assets of the listed companies. However, the Company has a duty to report the information in this case since it is considered an acquisition of investment fund in other company by the a listed company or its subsidiary company, resulting in PSAC 1 becoming a subsidiary of the Company.
Please be informed accordingly,
Yours sincerely,
Somprasong Panjalak
(Mr. Somprasong Panjalak)
Chief Executive Officer
2
บริษัท ไพร์ม โรด เพาเวอร์ จ ากัด (มหาชน) เลขที่ 1 อาคารที พี แอนด์ ที ชั้น 22 ซอยวิภาวดีรังสิต 19 ถนนวิภาวดีรังสิตเขตจตุจักรรุงเทพมหานครก แขวงจตุจักร10900 Prime Road Power Public Company Limited, 1, TP&T Tower, 22nd Floor, Soi Vibhavadi Rangsit 19, Vibhavadi Rangsit Road, Chatuchak, Chatuchak, Bangkok, 10900
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Prime Road Power pcl published this content on 14 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2022 14:13:04 UTC.
Prime Road Power Public Company Limited is a Thailand-based renewable energy developer. The principal business operations of the Company and its subsidiaries are the construction of power plants and generation of electricity from renewable energy to distribute to individuals, corporations, government agencies, state-owned enterprises both domestic and overseas. It is focused on investments in renewable energy projects in the Asia-Pacific region. The Company is primarily focused on trading, solar rooftop, and solar projects in Thailand, Japan, Taiwan, and Cambodia. Its solar projects include Jupiter Project, Tak 1 Project, Tak 2 Project, Sukhothai Project, Kamphaengphet 1 Project, Kamphaengphet 2 Project, Hino Project, Awaji Project, Yabuki Project, Solar Yunlin Project, Solar Yunlin 2 Project, and Cambodia National Solar Park. Its subsidiaries include Prime Esco (Cambodia) Co., Ltd., Prime Waste Energy Co., Ltd., and Pro Intelligence and Solutions Co., Ltd., among others.