The Extraordinary General Meeting of Shareholders of Total Access Communication Public Company Limited (SET: DTAC) on Monday unanimously approved the amalgamation between DTAC and True Corporation Public Company Limited (SET: TRUE).
The voting result, which required a vote of at least three-fourths of total votes, revealed that 89.1 percent approved of the matter, while 10.9 percent disapproved.
Meanwhile, on the same day (4 April), TRUE’s Extraordinary General Meeting of Shareholders unanimously passed the merger of the two companies, with 99.4 percent voting in favor and 0.63 percent voting against.
As part of the process of the amalgamation, there will be an allocation of shares in a new company which will be created as a result of the amalgamation (NewCo) to the shareholders of TRUE and DTAC in accordance with the following ratios: 1 existing share in TRUE to 0.60018 shares in NewCo; and 1 existing share in DTAC to 6.13444 shares in NewCo. NewCo’s registered and paid-up capital will be THB 138,208,403,204, divided into 34,552,100,801 ordinary shares, with a par value of THB4.00 each.