News Detail

24 Jul 2019 09:02:00
STARK's qualification for backdoor listing & approval of new shares to be traded on July 25, 2019
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                Additional listed securities

Subject                                  : Additional listed shares
Company name                             : STARK CORPORATION PUBLIC COMPANY 
Old capital (baht)                       : 323,211,005.00
- Common stock (Unit: shares)            : 323,211,005
Number of additional shares              :
- Common stock (Unit: shares)            : 22,166,666,666
New capital (baht)                       : 22,489,877,671.00
- Common stock (Unit: shares)            : 22,489,877,671
Par value (baht per share)               : 1.00
Allocated to                             : 1. Mr. Vonnarat Tangkaravakoon 
2. Stark Investment Corporation Limited 5,000,000,000 shares
3. Mr. Rewin Pataibunlue 666,666,666 shares
Offering price (baht per share)          : 0.60
Subscription and payment period          : 09-Jul-2019
Business description                     : STARK operate as holding company with
an investment in subsidiaries. The key subsidiary is Phelps Dodge International
(Thailand) Company Limited (PDITL) which manufacture and sell copper and
aluminum electrical wires. The company has 2 key products as below
1) Electrical Wire for transmission and power line, including copper rod, 
aluminum rod, medium voltage wire, high voltage wire and extra high voltage
wire, which commonly use in a construction of infrastructure and transportation.
2) Electrical Wire for general use, including Building wire and low voltage 
wire, which are frequently used in household, high-rise building and residences.
This product line also includes telephone cable wire, fire resistance wire that
 normally install for telecommunication system.
Financial Advisor in case Backdoor       : MAYBANK KIM ENG SECURITIES (THAILAND)
Trading date                             : 25-Jul-2019
Remark                                   :
According to the resolution of the extraordinary general meeting of Stark 
Corporation Public Company Limited (STARK)) (formerly known as Siam Inter
Multimedia Public Company Limited (SMM)) held on April 11, 2019, the Company's
shareholders approved the acquisition and entire business transfer that the
company has proceeded as follows,
1.Company restructures its business to holding company by establishing SMM Plus 
Company Limited (Subsidiary 99%) to accept transfer of the current printing and
media business. SMM will disposition of investment in SMM Plus Company Limited
to The Best Book Company Limited because there is no longer doing printing and
media business policy.
2. To acquisition and entire business transfer (EBT) from Team A holding 2 
Company Limited (TAH2) and subsidiary with main operations that is Phelps Dodge
International (Thailand) Company Limited (PDITL) which manufacture and sell
copper and aluminum electrical wires. The company offer newly issued ordinary
shares 21,500,000,000 shares to shareholders of TAH2, namely Mr.Vonnarat
Tangkaravakoon and Stark Investment Corporation Limited as payment for the EBT
at the offering price of THB 0.60 per share, totaling THB 12,900 million.
3. Offering newly issued ordinary shares 666,666,666 shares to Mr. Rewin 
Petaibunlue at the offering price of THB 0.60 per share, totaling THB 400
million to repay SMM's debt.
Therefore, the amount of asset acquisition transaction is 6,656.34 % of all 
issued shares of the company according to the stock value that the company
issued to pay assets. This transaction is considered as a backdoor listing.
STARK applies for relisting of new securities in order for SET to accept the
company's ordinary shares as listed securities on SET. Moreover, the company
have already proceeded relisting conditions by way of depositing the additional
shares 21,666,666,666 shares which allocated to 3 private placement at Thailand
Securities Depository Company Limited because the offering price is lower than
90% of the market price. The company already deposit 21,500,000,000 shares
except 666,666,666 shares which SET has granted the relaxation regulation of
depositing as requested by the company. (For more information please see
information memorandum)

The Stock Exchange of Thailand (SET) considers that STARK is fully qualified to 
be a listed company. Therefore, SET will reclassify STARK's securities to more
appropriate industry group and sector with existing business which is in
"Industrials" industry group under "Industrial Materials & Machinery" sector,
and allows the securities and additional securities of STARK to be traded on SET
 commencing from July 25, 2019 onwards.

Remark : Please see the information of the entire business transfer of TAH2 and 
its subsidiary on STARK's news and information memorandum disseminated on SET's