Kumwell Corporation Public Company Limited Approves Construction its Head Office Building
December 27, 2021 at 07:40 am
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Kumwell Corporation Public Company Limited (KUMWEL) announced to the mai Stock Exchange that the Board of the Directors' Meeting No. 12/2021 which was held on December 2, 2021 approved construction of the Company's head office building. The details are as follows. Referral to the Board of the Directors' Meeting No. 3/2021 which was held on April 1, 2021 approved the purchase of raw land and land improvement expenses for construction of the Company's head office building worth THB 53,570,600 with the land size 721.9 square wahs or 2,887.6 square meters and located on Nonthaburi Bypass Road, Bang Kraso, Mueang Nonthaburi for construction of the Company's head office building. The transaction size is equal to 8.72 percent of total assets according to the calculation based on the Company's consolidated financial statements of the period ended December 31,2020 which does not fit to the stock exchange rule of assets acquisition. The Board of the Directors' Meeting No. 12/2021 which was held on December 27, 2021 approved the construction of the Company's head office building with 6-storey and 8742.60 square meters construction areas. The new building worth baht 190,000,000. The details of transactions are Both transactions were acquisition of assets with transaction size equal to or higher than 15 percent but less than 50 percent according to the method of calculating the transaction size use the total value of consideration criteria in accordance with the Notification of the Capital Market Supervisory Board No. TorJor. 20/2551 Re: Rules on Entering Material Transactions Deemed as Acquisition or Disposal of Assets and the Notification of the Stock Exchange of Thailand dated August 31, 2008 and 2004 dated October 29, 2004.
Kumwell Corporation Public Company Limited is engaged in the production and distribution of electrical equipment, graphite mold, metal powder and ground wire. Its products include grounding system, lightning warning system, surge protection devices, lightning protection system, smart lightning management system and fiber optic detection technology. It manufactures and distributes products in grounding systems, such as grounding rods, grounding conductors, exothermic welding equipment, ground enhancement materials, inspection pits and others. Lightning protection systems are composed of air terminals, lightning conductors, connectors and fasteners and others. Surge protection system, lightning detection and warning system are compiled for international standards under the Kumwell brand. Its products are exported to over 40 countries around the world through its distributors. It serves various sectors, including electricity, transportation, telecommunications, industrial and others.