Date/Time 27 Jun 2024 17:58:00

Headline

Update Regarding Previously Disclosed on April 29, 2024 of Investment Considerations

Symbol EMPIRE
Source EMPIRE
SET requests to clarify news or information Subject : Update Regarding Previously Disclosed on April 29, 2024 of Investment Considerations Description : In response to inquiries from the Stock Exchange of Thailand (SET) on April 26, 2024 concerning potential securities price-effected developments, Twenty-Four Con & Supply Public Company Limited ("24CS" or "the Company") provides an update on investment considerations previously disclosed on April 29, 2024. Following the disclosure regarding potential investments in other companies, 24CS conducted thorough due diligence through external experts. This process revealed a significant discrepancy between assets previously reported by the target company and those essential for future revenue generation. This discrepancy posed a substantial risk to the Company's ability to achieve projected returns on investment. Furthermore, an independent financial advisor's valuation of the target company yielded a value lower than initially negotiated. Negotiations to revise the purchase price to a mutually agreeable level proved unsuccessful. Therefore, to safeguard the best interests of shareholders, the Company has decided to forego the aforementioned investment. Signature ___________________________ ( SANTI MANEEWONG ) Chief Financial Officer Authorized to sign on behalf of the company ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.