News Detail

Date/Time
04 Aug 2020 08:43:00
Headline
Business restructuring by transferring assets to a joint venture
Symbol
ALT
Source
ALT
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                Acquisition or disposition of assets

Ref.  VP200803

August 4, 2020

Subject:    Business restructuring by transferring assets to a joint venture
Attention:      The President, The Stock Exchange of Thailand

The Board of Directors of ALT Telecom Public Company Limited (the "Company" or 
"ALT") at its meeting, No. 3/2020 on May 12, 2020 has adopted the resolutions of
business restructuring to expand the business base and increase opportunities
for future growth by transferring 2 optical fiber networks to Smart Infranet
Company Limited ("SIC"), a joint venture between ALT and Ratch Group Public
Company Limited ("RATCH"), the proportion of shareholding between ALT and RATCH
is 49% and 51% respectively. Those transferred networks consisted of 1) The
fiber networks and micro ducts through the Metropolitan Electricity Authority's
underground pipelines on 3 road namely Sukhumvit Road, Phaholyothin - Pradipat
Road and Phayathai Road and 2) The fiber network along the railways and highways
covers all regions throughout the country (Collectively call both network as
the "Transferred Assets"). The Company's Board of Directors has authorized the
President to negotiate, agree, asking for permission and take any actions to
achieve the assets transfer and business restructuring under the approval frame.

Now the Company has completed the transfer of assets and restructuring of the 
business. The value of transaction was THB 530,868,730 (VAT included). The size
of the transaction was considered on the third party shareholding portion 51% in
the buyer company compared to total assets value of the Company as at March 31,
2020 was 8.2 %. Therefore, the transaction will not be complied to disclose as
the Notification of the Capital Market Supervisory Board No. Tor Chor. 20/2008
Re: Rules on entering into Material Transactions Deemed as Acquisition or
Disposal of Assets, and the Notification of the Board of Governors of the Stock
Exchange of Thailand (Bor.Jor./Por. 21-01) Re: Disclosure of Information and
Other Acts of Listed Companies Concerning the Acquisition or Disposal of Asset,
2004.

Nevertheless, for the benefit of investors to know the company's strategic 
progress. Therefore, it is appropriate to disclose the said information for
acknowledgment.

Respectfully Yours,


Somboon Setsuntipong
VP - Finance & Accounting
______________________________________________________________________
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