PTG Energy Public Company Limited (SET: PTG) published its Notification on Investment in Hire Purchase Financing for Second-Hand Trucks via the Stock Exchange of Thailand (SET).
PTG Energy Public Company Limited (SET: PTG) notified that the Board of Directors’ Meeting, resolved to approve the company to invest in Paisan Capital Company Limited (Paisan) by acquiring newly issued ordinary shares amounting to 50,000,000 shares, equivalent to the shareholding of 33.33 percent, in consideration for the total price of 825,000,000 baht (eight hundred and twenty-five million baht). The source of funds was from the company’s working capital.
Paisan is the company that engages in offering hire purchase financing for second-hand trucks, revolving business credit and refinancing loans. The transaction of Paisan’s shares acquisition is intended to create growth, business opportunities together and broaden the company’s business ecosystem to expand the variety of services for customers in order to obtain well-being and contentedness. In this regard, this transaction is not classified as a connected transaction as defined by the applicable notifications of the Capital Market Supervisory Board and the Board of Governors of the Stock Exchange of Thailand.
In addition, having considered the value of consideration, the size of the transaction does not cause the company to fall within the disclosure requirement under the Notification of the Capital Market Supervisory Board No. TorChor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposition of Assets and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets B.E. (2004).