14 Mar 2022 08:35:00
Dispose of subsidiaries registered in Japan of total enterprise value of the assets at approximately JPY 33,000.0 million or equivalent to THB 9,699.0 million completed.
CHOW.240/2022. March 14, 2022. Subject Dispose of subsidiaries registered in Japan of total enterprise value of the assets at approximately JPY 33,000.0 million or equivalent to THB 9,699.0 million completed. Dear The President of the Stock Exchange of Thailand. According to the resolution of the Extraordinary General Meeting of Shareholders No.1/2021 of Chow Steel Industries Public Company Limited ("the Company") held on 27 January 2021 to approved Premier Solution Japan KK ("PSJP") and RICI International Investment Pte. Ltd. ("RICI"), indirect subsidiaries of the Company with 87.36 percent ownership interest held through Chow Energy Public Company Limited ("CEPL"), to dispose of subsidiaries registered in Japan which hold solar power projects in Japan. Total consideration of the Transaction will be no less than JPY 14 billion or equivalent to THB 4.1 billion, with a consortium of renewable energy player in Japan. Such consideration implies a total enterprise value of the assets at approximately JPY 33,000.0 mm or equivalent to THB 9,699.0 mm. (with reference to the exchange rate of 16 December 2020). The Company would like to inform that the conditions specified in Assets Sale and Purchase Agreements has been fulfilled, and transaction has been closed. Please be informed accordingly. Yours sincerely, -Anavin Jiratomsiri- ( Mr.Anavin Jiratomsiri ) Chairman of the Executive Committee ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.