SIRI Agrees to Sell 30% Stake in Land-Owning Business to XSpring for Joint Development

Sansiri Public Company Limited (SET: SIRI) has announced that it has entered into a disposal of the ordinary shares in Pridit Co., Ltd. to Private Funds managed by XSpring Asset Management Company Limited on 19 December 2023, totaling 150,000 ordinary shares with the par value of 100 baht each or equivalent to 30% of paid-up capital of Pridit Co., Ltd. which is a subsidiary of the company that engages in land owning and property development business at the total purchase price of 15,000,000 Baht.

The purpose of this transaction is to set Pridit Co., Ltd. to be a 70:30 joint venture company between the company and XSpring Asset Management for the development of residential projects for sale under the resolution of the Board of Directors Meeting No. 13/2023 held on 10 November 2023.

After the transaction, XSpring Asset Management will hold 30% of Pridit, while SIRI will hold 70% of the remaining shares.