31 Oct 2018 08:31:00
Signing the Share Sale and Subscription Agreement for Rotomolding Compound Businesses
Translation) Ref 01- 0785 / 2018 31 October 2018 Subject : Signing the Share Sale and Subscription Agreement for Rotomolding Compound Businesses To : The President, The Stock Exchange of Thailand PTT Global Chemical Public Company Limited (the "Company") would like to inform that Board of Directors' meeting No. 9/2018 on 20 August 2018 has approved the Company, either directly or indirectly through an affiliated company, to acquire 49% shares of Revolve Group Limited ("RGL"), from an original shareholder and by subscription of newly issued shares from RGL. The total investment is 6.4 million pound sterling or equivalent to approximately 281 million baht (at 43.885 baht per GBP) which the final price may be adjusted depending on some certain factors. The Share Sale and Subscription Agreement has been signed on 30 October 2018. The investment is harmonized with the Company's business strategy that intends to expand the investment toward downstream and enhance the value chain of Performance Chemicals products. RGL is a major producer of Rotomolding Compound with a significant market share in Europe and Oceania through its extended global production footprints including United Kingdom, Poland, Australia, New Zealand, and Malaysia. The major feedstock used is LLDPE plastic resin. The acquisition of shares under Share Sale and Subscription Agreement is expected to be completed within the first quarter of 2019 after receiving approvals from related authorities pursuant to the terms and conditions in the Share Sale and Subscription Agreement. In this regard, this transaction is not a connected transaction and by considering the accumulated value of the past 6 months this transaction is not under the criteria to disclose the information in accordance with the Notification of the Acquisition or Disposition of Assets of Listed Companies to the Stock Exchange of Thailand. Please be informed accordingly. Yours sincerely, Mr. Supattanapong Punmeechaow President & Chief Executive Officer ______________________________________________________________________ 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.