M.D. 107/2022
August 5, 2022
Subject : Disclosure of the information connected transaction
To : President of the Stock of Exchange of Thailand
Kang Yong Electric Public Company Limited hereby notify that the resolution of the Board of Directors' Meeting No.2/2022 on August 5, 2022, consider and approve the company entering into the connected transactions. The detail as following:-
Information on Connected Transaction relating asset or service
Purchasing Function Tester (FCT Fixture)
- Transaction Date : August 2022 - October 2022
- Connected Parties : Buyer: Kang Yong Electric Public Company Limited (KYE) Seller: Mitsubishi Electric Trading Corporation (MT)
3. Nature of the Transaction :
Purchasing the temperature control panel was designed to be on the top is the new type of refrigerator 2 doors freezer under the co-design and development with Mitsubishi Electric Corporation.
4. Total value of the Transaction :
Total amount Baht 1,650,000 or 0. 0 2 % of net tangible asset ( NTA as of June 30, 2022 = 7,851,349,140.42 baht)
The size of transaction that is medium size exceed 1 million baht but not exceed 20 million baht, pursuant the Notification of the Board of Governors of The Stock Exchange of Thailand regarding Disclosure of Information and Other Acts of Listed Companies concerning connected transactions B.E.2546. KYE must take following actions:-
- Seek approval from the Board of Directors' meeting.
- Report and disclosure of information of this transaction to the SET
5. Scope of Interests of Connected Persons :
- Mitsubishi Electric Corporation (MELCO) holds 9,048,020 shares or 45.70 % of the registered and paid-up capital of KYE
- Mitsubishi Electric Trading Corporation (MT) is subsidiary company of KYE's parent (MELCO holds 95.8 % of shares)
/6. Funding Source: ………………………………………
-
Funding Source :
Working capital - Directors who was related person / in with conflict of interests did not attend nor cast votes
at this agenda : | ||||
Name | Relevant | Shares holding | ||
1. | Mr. Kunihiko | Seki | None | |
2. | Mr. Tatsuo | Ono | Directors who are related person | None |
3. | Mr. Osamu | Sugimoto | None | |
4. | Mr. Keiji | Oya | Directors who are representative | None |
5. | Mr. Yasuhito | Negishi | None | |
6. | Mr. Tatsuo | Ono | of major shareholders | None |
- Connected Transaction Reason :
- The product is designed by Mitsubishi Electric Corporation (MELCO), including programs on the PCB Machines designed by MELCO are required and coordinated by Mitsubishi Electric Trading Corporation (MT) to be able to program, operate and maintain efficiently
- The investment is involving in controlling the cost. It is able to reduce the quality problems and production costs
- Opinion of the Board of Directors and Audit Committee :
- To agree with the entering into a connected transaction because it is necessary to improve the refrigerators' control system.
- Opinion of the Board of Directors and Audit Committee which is different: -None -
Yours Sincerely,
Keiji Oya
Vice Chairman of the Board of Directors
Corporate Strategic Planning Office
Tel. 02-337-2900 ext. 1150
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Kang Yong Electric pcl published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 11:15:17 UTC.