Gulf Energy Development Public Company Limited (SET: GULF) is poised to receive over THB 1,800 million of special dividend from Intouch Holdings Public Company Limited (SET: INTUCH) after the latter successfully dispose its shareholding in Thaicom Public Company Limited (SET: THCOM).
INTUCH announced earlier that the resolution of its Extraordinary General Meeting of Shareholders resolved to approve the disposal of THCOM, its subsidiary, to GULF, its major shareholder, at the amount of 450,870,934 shares or 41.13% of the total issued shares of THCOM.
INTUCH will receive THB 4,472.64 million from the disposal, considering the offering price is THB 9.92 per share.
After the announcement of the disposal, INTUCH also announced a special dividend payment at the amount of THB 1.40 per share to be paid on January 27, 2023. The ex-dividend date is January 10, 2023.
GULF is currently holding 1,319,668,779 shares in INTUCH, which would result in the company receiving THB 1,847,536,290 from this special dividend payment in return of the investment it made to acquire THCOM’s business.
Source close to the matter told “Kaohoon” that the transactions between the three parties could be done as soon as this Friday.