Plan B Media Public Company Limited (SET: PLANB), has acquired 70% ordinary shares of BL Falcon Pte. Ltd., Singapore (BL Falcon), through its 100 % subsidiary, The Master Standard Display Company Limited (“MSD”), in amount of 2,100,000 shares from Mr. Laphat Vichairattanavong and Ms. Bernice Heng Geak Siang. BL Falcon will be a subsidiary of MSD.
BL Falcon Pte. Ltd., Singapore is a Provider of Digital Out-of-Home Media Advertising in Singapore with Registered Capital of SGD 3,000,000 consists of 3,000,000 ordinary shares with a par value of SGD 1 each.
The Total transaction value calculate from the ordinary shares of BL Falcon in amount of 2,100,000 shares at the price SGD 0.226 per share, totaling SGD 475,000 or estimated to be equivalent THB 12,601,750 as of the exchange rate on 14 September 2023 (SGD 1: THB 26.53).
PLANB’s objective is to expand the Digital out-of-home media advertising in Singapore which aligns to the Company strategy to expand out-of-home business in ASEAN market.
The transaction is the acquisition of assets according to the Notification of the Capital Market Supervisory Board No. Tor Jor. 20/2551 Re: Rules on entering into material transaction deemed as acquisition or disposition of assets.
The maximum transaction size is the value of the consideration criteria equals to 0.08 percent based on the Company’s consolidated financial statements as of 30 June 2023.
And when taking into account all other asset disposition transacted during 6 months prior to the date, which is less than 15 percent. Therefore.
The transaction is not related to the disclosure of information in the Notification of the Board of Governors of the Stock Exchange of Thailand Re: disclosure of information of listed companies concerning acquisition or disposition of assets B.E.2547, including the amendments (“Notification of the Board of Governors of the Stock Exchange of Thailand: Acquisition or Disposition of Assets”).