Thanulux Public Company Limited agreed to acquire 9.9997% stake in Oxygen Asset Co., Ltd. from Saha Pathana Inter-Holding Public Company Limited for THB 99.997 million.

Thanulux Public Company Limited (SET:TNL) agreed to acquire 9.9997% stake in Oxygen Asset Co., Ltd. from Saha Pathana Inter-Holding Public Company Limited (SET:SPI) for THB 99.997 million on March 29, 2024. Prior to the transaction, Thanulux Public Company Limited (SET:TNL) held 90%. The consideration consists of purchase value of OXA?s ordinary shares at THB 99.997 million, and outstanding loan amount provided by SPI to OXA as per shareholding proportion as at March 12, 2024 of THB 567.10 million.

Nuntawat Surawatsatien will become the new Director of OXA. The transaction is subject to the approval of the Board of Directors and the shareholder's approval of Oxygen Asset Co. and Thanulux Public Company Limited.

The parties hereto mutually agree that the closing date of the transaction including repayment of all outstanding loans OXA owned to SPI shall be within May 31, 2024.