Bound and Beyond Public Company Limited (SET: BEYOND) announced reference to the resolution of of the Extraordinary General Meeting of Shareholders held on September 23, 2021, which approved the additional acquisition of ordinary shares of Urban Resort Hotel Company Limited (URH) and Waterfront Hotel Company Limited (WFH) in the amounts of 173,950,000 shares and 95,550,000 shares, respectively, representing 49.00 percent of the paid-up capital of URH and WFH from Landmark Holdings Company Limited (LH), who is deemed as a connected person.
The acquisition price is at THB 10 per share (par value of THB10 per share), resulting in a total investment value of THB 2,695.00 million. After the additional acquisition, the company will hold 100.00 percent of URH and WFH and will obtain complete control of both companies. URH and WFH hold the rights to use assets, land and related rights of the Four Seasons Hotel Bangkok at Chao Phraya River and the Capella Bangkok, respectively.
BEYOND informed that, on December 27, 2021, the company completely acquired additional 25.00 percent of shares in URH and WFH. As a result, the company currently owns a total of 76.00 percent in URH and WFH.
The company expects to acquire the remaining shares of 24.00 percent by the third quarter of 2022 and will notify the shareholders thereafter.