07 Jan 2019 06:47:00
Information on the investment in WOG ITR Water Solution Company Limited
Acquisition or disposition of assets As the Board of Directors Meeting of Wiik & Hoeglund Public Company Limited ("the Company") No. 5/2018 on October 12, 2018, approved Wiik Water Company Limited (WW), a 100% shareholding subsidiary to purchase ordinary shares of WOG ITR Water Solution Company Limited ("WOG ITR") of 48,571 shares with a par value of Baht 100 per share, representing 100% of the paid-up capital from the existing shareholders amount of Baht 35 million and provide financial assistance to WOG ITR of Baht 265 million (after becoming a subsidiary) to pay the following: 1. To repay loans and interest from WOG Technologies (Thailand) Company Limited ("WOG THAI") (The Existing shareholder) amount of Baht 42 million. 2. To repay creditors arising from the purchase of assets used in WOG ITR's business operations to WOG Technologies (Thailand) Company Limited ("WOG THAI") at a total price of Baht 223 million (VAT included) divided by 3 installments as follows. ? 1st installment on closing date of Baht 80 million. ? 2nd installment, 13th month from the closing date of Baht 80 million. ? 3rd installment, 19th month from the closing date of Baht 55 million. The maximum value that the Company uses to calculate the size of asset acquisition transaction is total of Baht 300 million and assigned the Management to set the closing date when complete the significant conditions for entering the transaction including reporting to the SET as the announcement of the Stock Exchange of Thailand, subject; Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, BE 2547 when there is a certainty of the transaction. More details as attached file ______________________________________________________________________ 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.