News Detail

Date/Time
15 May 2017 07:49:00
Headline
Notification of increasing invest portion in subsidiary (CCP Paving Stones Company Limited)
Symbol
CCP
Source
CCP
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                Acquisition and disposition of assets

No. CM.1/60/041

May 15, 2017

Subject      Notification of increasing invest portion in subsidiary (CCP Paving 
Stones Company Limited)

Attention      President
                The Stock Exchange of Thailand
    
Chonburi Concrete Public Company Limited ("the Company") would like to inform 
the increasing investment in CCP Paving Stones Company Limited (Subsidiary) by
buying all newly issued shares of 400,000 shares (5.78 percent of the Company's
registered capital). The details are as follows:

1.Date of transaction  : On May 13, 2017, the Meeting of the Board of Director 
of Chonburi Concrete product Public Company Limited No.2/2017 has the resolve to
approve the investment in CCP Paving Stones Company Limited, manufacturing and
selling finished concrete, by buying newly issued shares of 400,000 shares (5.78
percent of the Company's registered capital) by assigning the management
division to prepare the transaction process and oprated in accordance with the
related law in order to ensure that investing in CCP Paving Stones Company
Limited is correct and complete. After the operation and information is correct
and complete, the management division should notify the resolution of the
Meeting of the Board of Director No.2/2017 that approved the investment in CCP
Paving Stones Company Limited to the Stock Exchange of Thailand. The process of
documentation and law in for this transaction is completed on May 15, 2017.

2. Connected party and relationship with the listed company :
Purchaser:      Chonburi Concrete Product Public Company Limited
Seller:      CCP Paving Stones Company Limited (Subsidiary)
3. Characteristics of transaction :

3.1) Transaction : The acquisition of the ordinary share of CCP Paving Stones 
Company Limited by buying newly issued shares of 400,000 shares (5.78 percent of
the Company's registered capital) at par 100 baht per share. CCP Paving Stones
Company Limited had issued share at par in which the Company invested
proportionally and exercised the right of the shareholder that did not exercised
the right of 400,000 shares with amount of 40,000,000 Baht. Thus, the
transaction is classified to be the connected transaction under the Notification
of the Capital Market Supervisory Board No. Tor Jor. 21/2551 and the
Notification of the Stock Exchange of Thailand Subject Disclosure of Information
of Listed Company in connected transaction 2003 November 19, 2003 and
additional amendment. The Company invested in 40,000,000 baht in the
transaction. The proportion of shares that Chonburi Concrete Product Public
Company Limited held in CCP Paving Stones before the acquisition was 90.00% and
after the acquisition was 94.44%.

   
 3.2) Criteria to calculate the size of the transaction: the details are as 
follows
      1) Connected Transaction
    Since Directors and related person who are the shareholders of the subsidiary 
did not exercise the right to buy newly issued share, the Company will exercise
the right to buy newly issued share of the related persons. The size of the
connected transaction is 40,000,000 baht, greater than 0.03% of NTA but less
than 3% of NTA. To this extent, the transaction must be approved from the
Company's Board of Director Meeting.
      2) Asset Acquisition Transaction
    The maximum size of the transaction is 1.32% under the criteria of the total 
value of considerations (including similar transaction 6 months ago that was not
approved by the shareholder). The size of the transaction is less than 15%, it
can be executed corresponding to the Company's Authority Table.
The transaction must be approved by the Board of Director Meeting.
4. The details of the asset
4.1)CCP Paving Stones Company Limited (ordinary share)
General information:     CCP Paving Stones Company Limited
Type of business:     manufacturing and selling finished concrete
Registered Capital:     50,000,000 baht with 500,000 shares at par 100 baht
Paid-up Capital:     50,000,000 baht with 500,000 shares at par 100 baht
Current shareholders: Chonburi Concrete Product Public Company Limited 90.00%
             Theepakorn Holding Company 8.00%
             Mr. Pratheep Theepakornsukkasem 2.00%

Financial Statement of CCP Paving Stones Company Limited (Year 2012-2016)

                                                                                
                          Unit : Baht
    Y2012    Y2013    Y2014    Y2015    Y2016
Sales            -            -            976,462       22,675,095       47,770,667
Net Profit               5,288          (220,373)       (8,234,150)     (24,162,172)     
(32,400,384)
Gross Profit            -            -       (1,806,899)           405,076        4,456,233
Total Asset         1,014,803        50,660,410      229,088,490      234,250,312     
231,619,049
Total Liability               8,000            873,980      187,536,170      225,293,518     
246,828,427
Total Equity         1,006,803        49,786,430        41,552,280         8,956,794     
(15,205,378)


Remark
1.    In 2016, CCP Paving Stones Company Limited had the loss from operating since 
the manufacturing has not used up full capacity and there was newly introducing
product different from the competitor requiring time to do the marketing.

2.    Total Liability in 2016 of THB 246 million includes
Loans from financial institution    13.90 million baht
Account Payable              6.40 million baht
Loans from connected person        223.00 million baht
Other current liability            1.87 million baht
Other non-current liability and benefit  0.49 million baht
   
 4.2) Proportion of share of CCP Paving Stones Company Limited held by Chonburi 
Concrete Product Public Company Limited
    Before acquisition:     90.00%
    After acquisition:     94.44%

4.3)Payment : deposit into the banking account of CCP Paving Stones Company 
Limited
         Current account no. 505-3-03341-8

5.Benefit of the transaction :  Future dividend, CCP Paving Stones Company 
Limited is the manufacturer and seller of finished concrete with manufacturing
potential and competitiveness as well as business development in the future and
synergy.

6.Source of fund : Cash Flow in the Company

7.Opinion of the directors : the transaction will benefit the Company. All 
Directors (excluding stakeholders) approved the transaction.
  
8.Different opinion of Director: None


Please be informed accordingly,


Best Regards



..................................................
(Mr. Pratheep Theepakornsukkasem)
Chairman of the Board of Director
Chonburi Concrete Product Public Company Limited
______________________________________________________________________

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.