B.Grimm Power Public Company Limited (SET: BGRIM) has informed the Stock Exchange of Thailand that B.Grimm Power Future Solution Limited (BGPFS), a wholly owned subsidiary, has acquired ordinary shares of Aruna X Holdings Company Limited (ARUNA X), representing 51% of its registered capital, from NeoPrime Power 2 Company Limited (NEO Prime Power 2), who is not a connected person. The transaction is valued at a total consideration of THB 510,000, with the objective of expanding investment in a solar power generation project.
ARUNA X is a holding company with a registered capital of THB 1 million, divided into 100,000 ordinary shares, of which BGPFS will hold 51% of the total issued shares, while NEO Prime Power 2 will hold 49% of the share following the transaction.
In this regard, ARUNA X has 2 wholly owned subsidiaries with a registered capital of THB 60 million each, operating in the business of power generation and distribution. Consequently, the acquisition of ARUNA X will result in these subsidiaries becoming subsidiaries of the company.
