News Detail

Date/Time
30 Sep 2016 13:04:00
Headline
Establishment of New Entity Jointly with ThreeSixtyFive Public Company Limited (Update)
Symbol
AUCT
Source
AUCT
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                AUCT-OP 243/2559
    7 September 2016
Subject:    Establishment of New Entity Jointly with Three Sixty Five Public 
Company Limited
To:    The President
    The Stock Exchange of Thailand
The Board of the Directors' Meeting No. 4/2016 which was held on 9 August 2016 
has approved the Company to invest jointly in the new entity with TSF Energy
Co., Ltd., TSF's subsidiary.
On this day, the Company has signed the MoU for the establishment of such new 
entity having details as follows:
1.    Information on the new entity
Date of transaction:    within 31 October 2016
Name of company:    Action & Auction Co., Ltd.
Objectives:    
1.    To manage and develop quality of assets and to receive assets from property 
owners such as cars and real estate and sent to AUCT to process the auction to
increase the value of assets for the benefit of buyers and sellers
2.     To improve loan quality by providing appropriate financial advice to clients
 such as new loans to reduce the Non - Performing Loan
3.    To manage the relocation of assets and transportation
4.    To provide asset evaluation service
5.    To provide vehicle examination service
6.    To provide software operating service
7.    To be the center of asset management data
8.    To engage in used-cars business and others
9.    To engage in online bidding business
10.    To provide PR and marketing service
11.    To engage in business antiques
Registered capital:     THB 10 million
Shareholding proportion:    
(1)    Union Auction Public Company Limited    holds 50.998%    (THB 5.0998 million)
(2)    TSF Energy Co., Ltd.    holds 24%    (THB 2.40 million)
(3)    Pearl and Dean Media Service Co., Ltd.    holds 15%      (THB 1.50 million)
o    The purpose of the business is the design, construction and installation 
services relating to advertising, such as maintenance, cleaning billboards,
installation and operation structure and the power of advertising and so on.
o    Major Shareholder is Mrs. Saniwimol Hemasikhanthaka)
(4)    Athajak Co., Ltd.     holds 5%    (THB 0.05 million)
o    Major Shareholder is Mr. Supajak Triranopas
(5)    Mr. Baupit Thurachon     holds 5%    (THB 0.05 million)
(6)    Miss Poonsilp Kaewchumnong    holds 0.001%    (THB 100)
(7)    Mr. Kriengsak Tamraksa     holds 0.001%    (THB 100)
2.    Objective of investment
To generate income and promote Company's stability
3.    Source of Fund
The Company's working capital
4.    Benefits to be gained
To increase customer base as well as strengthen its potential in business 
competition which will be beneficial and advantageous to both the Company and
its shareholders.
This transaction is insignificant to public according to disclosure and 
connected transaction of acquiring and disposal of asset, following by
regulation of Board of The Stock Exchange of Thailand. Moreover, the Company
will inform the Stock Exchange of Thailand once the contract is signed between
the shareholders within 31 October 2016.
Please be informed accordingly.
    
 
Yours sincerely,
Union Auction Public Company Limited


-Signature-
(Mr. Thepthai Sila)
Director
Authorized Signatory
______________________________________________________________________
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