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.