TOA Paint Thailand Public : Report of the Utilization of Capital Increase from IPO
July 12, 2022 at 06:44 am EDT
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- Translation -
No. TOA 16/2022
July 12, 2022
Subject: Report of the Utilization of Capital Increase from IPO
To: President
The Stock Exchange of Thailand
As TOA Paint (Thailand) Public Company Limited (the "Company") issued new shares for capital increase by initial public offering ("IPO") on September 27-29, 2017 for 254 million shares at the price of Baht 24 per share, the Company received proceeds from IPO in the total net amount of Baht 5,887.20 million after deducting underwriting commission and expenses in connection with the offering.
At the Board of Directors' Meeting No. 2/2020 on February 26, 2020, there was a resolution to insignificantly change the objectives of the utilization of proceeds obtained from IPO by reallocating among those objectives specified in the securities offering statement no.2 (1) subject to the Notification of the Office of the Securities and Exchange Commission No. SorJor. 63/2561 (2018) Re: Change in Objectives of Proceeds Utilization under the Securities Offering Statement and Draft Prospectus. The remaining amount as at December 31, 2019 was Baht 2,441.40 million, which can be used for business expansion in Thailand and overseas including the operational working capital of the Company. To comply with the regulatory requirements, the aforementioned change was already notified to the Stock Exchange of Thailand and the 2020 Annual General Meeting of Shareholders.
The Company would like to report the utilization of capital increase from IPO as at June 30, 2022:
(Unit: Million Baht)
Proceeds
After the change in objectives of utilization of proceeds as at Feb. 2020
utilization
Objective of spending
Remaining as
Remaining
Amount used
Outstanding
plan
at
as at
during
balance as at
Dec. 31, 2019
Dec. 31, 2021
Jan. - Jun., 2022
Jun. 30, 2022
1. Use of net proceeds to
2,030.00
expand the business in
Thailand and overseas,
including developing and
improving internal
2,441.40
1,397.59
993.93
403.66
operational efficiencies
2. Use of net proceeds for
3,857.20
operational working capital
of the Company
Total
5,887.20
2,441.40
1,397.59
993.93
403.66
Please be informed accordingly.
Yours Sincerely,
(Mr. Jatuphat Tangkaravakoon)
Chief Executive Officer
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TOA Paint Thailand pcl published this content on 12 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2022 10:43:05 UTC.
TOA Paint (Thailand) Public Company Limited is a Thailand-based company, which is engaged in the manufacture and distribution of decorative and non-decorative paint and coating products and other products. The Company classifies its decorative paint and coating products into three main categories, such as premium grade paints and coatings, medium to economy grade paints and coatings, and other decorative products. The Company produces and distributes decorative paint topcoats (both emulsion paints and enamel paints), sealers, or primers, including anti-rust primers. It categorizes the non-decorative paint and coating products into construction chemicals products, heavy-duty coating products, and other non-decorative paint products. It sells its various products through distribution networks, such as retail dealers, modern trade, and other channels. The Company also distributes its products through other channels consisting of projects, exports, and related companies.
TOA PAINT (THAILAND) 
