News Detail

27 Feb 2020 20:39:00
Establishment of New Subsidiary
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                Acquisition or disposition of assets

The establishment of a new subsidiary to support business expansion with details
 as follows;
Subsidiary Name: S Investment and Management (BVI) Ltd.
Registered capital: US $ 5,000,000 consisting of 5,000,000 ordinary shares
At par value of 1 USD per share
Paid-up capital: USD 1
Shareholders Structure: S Hotel and Resorts Inter Co. Ltd. (in which the Company
 holds 99.99 percent directly), holds 100 percent
Establishment objectives: Preparations for international investments
Head office location: Tortola Pier Park, Building 1, Second Floor, Wickhams Cay 
I, Road Town, Tortola, British Virgin Islands
Funding source used:     Working capital of the Company

The establishment of this new subsidiary is not a connected transaction but an 
asset acquisition transaction calculated for the maximum transaction size based
on the total value of consideration basis of the total assets of the Company and
its subsidiaries as of 31 December 2019, in accordance with the announcement of
the Capital Market Supervisory Board Thor.Jor. 20/2551 re: Significant
transactions that are classified as an acquisition or disposal of assets
(including its amendments) and the announcement of the Stock Exchange of
Thailand re: Information Disclosure and Practices of Listed Companies Regarding
Acquisition or Disposal of Assets B.E. 2547 (including its amendments).
When the acquisition of assets in the past 6 months of the Company is 
accumulated, the size of the acquisition of total accumulated assets is not
considered a significant acquisition or disposal of assets according to the
announcement of the Stock Exchange of Thailand mentioned above.
However, the Company has a duty to disclose information about the establishment 
of a subsidiary or a joint venture with other company to the Stock Exchange of
Thailand according to the regulations of the Stock Exchange of Thailand
Bor.Jor./Por. 11-00 re: rules, conditions and procedures regarding the
disclosure of information and any action of listed companies B.E. 2560
(including its amendments)
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.