21 Jan 2019 19:07:00
Report of the termination of the Marvel Experience: Theme Entertainment Attraction - TMX Thailand Project
Demeter Corporation Public Company Limited (the "Company") has invested in Marvel Experience: Theme Entertainment Attraction - TMX Thailand project (the "Project") as a result of its holding 37.5 percent of the shares in Hero Experience Company Limited ("Hero Experience"). The Company wishes to report to the Stock Exchange of Thailand ("SET") that, on January 21, 2019, Hero Experience held the Extraordinary General Meeting No. 1/2019 (the "Meeting") at which it proposed an agenda for consideration regarding termination of the Project operation due to the fact that Hero Experience has a lack of liquidity problem, and the Project has not been operated in accordance with the plan. The Meeting resolved to terminate the Project with 62.5 percent of the votes in favor and 37.5 percent of the votes against. The management of Hero Experience has scheduled cessation of the operation of the Project on January 29, 2019; the show at 6.00 PM on such day will be the last performance. The Company, as the shareholder of 37.5 percent in Hero Experience, shall carefully co-consider with the major shareholder regarding the management of Hero Experience's assets in order to limit the negative effect on the Company. Should there any progress on this effort, the Company will inform with a prompt update accordingly. ______________________________________________________________________ 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.