Chow Steel Industries Public : Dispose of subsidiaries registered in Japan of total enterprise value of the assets at approximately JPY 33,000.0 million or equivalent to THB 9,699.0 million completed.

Date/Time

14 Mar 2022 08:35:07

Headline

Dispose of subsidiaries registered in Japan of total enterprise value of the assets at approximately JPY 33,000.0 million or equivalent to THB 9,699.0 million completed.

Symbol

CHOW

Source

CHOW

Full Detailed News

                CHOW.240/2022.

March 14, 2022.

Subject     Dispose of subsidiaries registered in Japan of total enterprise value 
of the assets at approximately JPY 33,000.0 million or equivalent to THB 9,699.0
 million completed.

Dear        The President of the Stock Exchange of Thailand.
    According to the resolution of the Extraordinary General Meeting of 
Shareholders No.1/2021 of Chow Steel Industries Public Company Limited ("the
Company") held on 27 January 2021 to approved Premier Solution Japan KK ("PSJP")
and RICI International Investment Pte. Ltd. ("RICI"), indirect subsidiaries of
the Company with 87.36 percent ownership interest held through Chow Energy
Public Company Limited ("CEPL"), to dispose of subsidiaries registered in Japan
which hold solar power projects in Japan. Total consideration of the Transaction
will be no less than JPY 14 billion or equivalent to THB 4.1 billion, with a
consortium of renewable energy player in Japan. Such consideration implies a
total enterprise value of the assets at approximately JPY 33,000.0 mm or
equivalent to THB 9,699.0 mm. (with reference to the exchange rate of 16
December 2020).
    The Company would like to inform that the conditions specified in Assets Sale 
and Purchase Agreements has been fulfilled, and transaction has been closed.
Please be informed accordingly.

Yours sincerely,

-Anavin Jiratomsiri-

( Mr.Anavin Jiratomsiri )
Chairman of the Executive Committee
______________________________________________________________________
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