News Detail

Date/Time
11 Mar 2019 17:08:00
Headline
Progress report on the execution of Supreme Court of Criminal Division for Politicians
Symbol
AQ
Source
AQ
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                -Translation-


SET. 007/2019                                   
11 March 2019

Subject: Progress report on the execution of Supreme Court of Criminal Division 
for Politicians
To:    Directors and the Manager
                The Stock Exchange of Thailand
C.C.      Letter No.036/2018, dated 17 October 2018

The company would like to notify in accordance with the letter No. SET.036/2018 
dated 17 October 2018 that AQ Estate Public Company Limited had reported the
auction of mortgaged property at the price of THB 8,914.07 million on 17 October
2018. The properties sold at the auction were divided into 3 groups, with the
buyer placing a deposit of THB 448.50 million and. paid the remaining within 1
February 2019 and on 24 January 2019. The buyer paid the amount of THB 3,612.12
million which was the auctioned property in the first group. As for the
mortgaged property of the second group was the ownership of Golden Technology
Industrial Park Company Limited and the third group of land was the ownership of
K and V SRS Garden Home Company Limited which was subsidiary of Golden
Technology Industrial Park Company Limited, holding shares 99.97% had taken the
third group of land to debt guarantee for Golden Technology Industrial Park
Company Limited. K&V SRS Garden Home Company Limited filed the petition to
revoke property sale, claiming that was 4 illegality sales.  The court ordered
the dismissal of 2 cases. The remaining 2 cases were the first case that AQ Plc.
prosecuted Golden Technology Industrial Park Company Limited regarding the
deposit for land by appointing a hearing on 20 March 2019 and the second case of
BAM prosecuted K&V SRS Company Limited for bankruptcy. In this regard, Krung
Thai Bank is a collateral creditor and therefore subrogates the right instead of
BAM. by appointment of witnesses on 25 and 26 April 2019. Currently, the buyers
of collateral land have filed the court case to pay upon case completion with
the remaining amount of THB 4,853.45 million.

Please be aware and please spread further.
Yours Sincerely,
(Mr. Suthad Chankingthong)       (Ms. Ranchana Rajatanavin)                           
        Director                                Director
______________________________________________________________________
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