Thai Union Public : Joint investment with Starflex Public Company Limited to establish a new company "Star Union Packaging Co., Ltd."
April 28, 2022 at 09:32 pm EDT
Share
Ref. 16/650429
29 April 2022
Subject:
Joint investment with Starflex Public Company Limited to establish a new company "Star Union Packaging Co., Ltd."
Attention: President The Stock Exchange of Thailand
Referring to Thai Union Group Public Company Limited (TU)'s letter no. 24/640930 dated 30th September 2021, informing the Stock Exchange of Thailand (SET) in respect of a resolution of Executive Committee to approve an investment of Thai Union Graphic Co., Ltd. (TUG), a subsidiary of the Company carrying on servicing and manufacturing of printing and packaging business, the Company would like to update that TUG and its partner, Starflex Public Company Limited (SFLEX), an industry leader in manufacturing and distributing high quality flexible packaging, has successfully to establish a new company for joint investment namely "Star Union Packaging Co., Ltd". The details of this investment can be summarized below:
1. Details of investment
Registration Date
28 April 2022
Name of the company
Star Union Packaging Company Limited
Objective of Investment:
Establish new joint investment company to carry on a manufacturing and distributing of flexible packaging and other related business including development of new packaging or products.
Location
255 Samae Dam Road, Samae Dam Sub-district, Bangkhuntian District, Bangkok
Registered Capital:
1,000,000 Baht comprised of:
- 9,800 common shares; and - 200 preferred-shares
with par value of 100 Baht per share.
Shareholding Structure:
1) SFLEX will subscribe 4,997 common shares.
2) TUG will subscribe 4,799 common shares and 200 preferred shares.
3) Others 4 common shares.
Director Structure:
1) Piyathep Seetachan
2) Sompote Valyasevi
3) Somchai Wongrassamee
บริษทั ไทยยูเนี่ยน กรปุ๊ จำกดั (มหำชน)
THAI UNION GROUP PUBLIC COMPANY LIMITED
Tax ID & Registered no. 0107537000891 website: thaiunion.com
2. Source of Funds
Cash from the Company's working capital.
3. Connected Nature
SFLEX is not a connected person of the Company, and therefore, the investment to establish a new company is not the connected transactions in accordance with the Notification of Capital Market Supervisory Board No. TorChor. 21/2551.
4. Size of Transaction
The size of this investment in the establishment of the company was 0.0003% calculated based on total value of consideration of the Company (as of 31 December 2021). The aggregate purchase price of all acquisitions of assets made during 6 months was 0.7276%. Therefore, this acquisition of the assets shall not require mandatory public disclosure under the Notification of Capital Market Supervisory Board No. TorChor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets and 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 B.E. 2547.
5. Executive Committee' opinion in relation to the transaction
Executive Committee remarks that joint investment in establishment of a new company with SFLEX, an industry leader in manufacturing and distributing high quality flexible packaging with strong expertise and knowledge in the field, is appropriate and benefits to the company.
Please be informed accordingly and consider further dissemination to investors.
Respectfully yours,
Thai Union Group Public Company Limited
Mr. Thiraphong Chansiri
President & CEO
Office of Company Secretary
Tel. 0-2298-0024 ext. 4242
บริษทั ไทยยูเนี่ยน กรปุ๊ จำกดั (มหำชน)
THAI UNION GROUP PUBLIC COMPANY LIMITED
Tax ID & Registered no. 0107537000891 website: thaiunion.com
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Thai Union Group pcl published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 01:31:07 UTC.
Thai Union Group Public Company Limited is a Thailand-based company. The principal activities of the Company and its Thai subsidiaries are the manufacture and sale of frozen, chilled and canned seafood. The Companyâs some Thai subsidiaries are also engaged in packaging, printing, pet food, food ingredients and food supplemental businesses. Its subsidiaries in the United States distribute pet food, lobster, and other seafood products and import shrimp and other frozen seafood products for sale to restaurant chains, retailers and wholesalers. Its subsidiaries in Europe manufacture and distribute ambient and chilled seafood products to countries in Europe, the United States and Australia under their trademarks. Its subsidiaries in Asia manufacture and distribute seafood in Vietnam and China. The Company has 17 branches in Bangkok and Samutsakorn. Its segments include ambient seafood, frozen and chilled seafood and related businesses, pet food, and value-added and other businesses.