24 Sep 2020 18:34:00
Signing of memorandum of understanding on business cooperation of a joint venture
Ref. VP200905 September 24, 2020 Subject: Signing of memorandum of understanding on business cooperation of a joint venture To: President The Stock Exchange of Thailand ALT Telecom Public Company Limited (the "Company") would like to notify the Stock Exchange of Thailand that Smart Infranet Company Limited ("SIC"), a joint venture between the Company and RATCH Group Public Company Limited at the holding ratio of 49% and 51 % respectively, has signed a Memorandum of Understanding on business cooperation regarding the utilization of telecommunication network and area for installation equipment of Electricity Generating Authority of Thailand ("EGAT"), whether the existing or future assets, to provide the sharing service to telecom operators efficiently. Such business cooperation is a progress in expanding SIC's telecommunication network service under the Fiber Space Project, which is developed to firmly and sustainably support the needs of connection services and to enhance the quality of telecommunication services of Thailand as well as supporting the increase needs of the ASEAN Economics Community ("AEC") The strength of EGAT network is stability as the network has been installed on a high-voltage transmission line poles across the country of approximately 500,000 kilo-core/ 250 base stations. Therefore, promoting sharing use of the telecom operators will reduce the operating cost for all parties. Including increasing the ability to provide better services, this will benefit to the whole industry. The service has readied to provide since 15 September 2020. Please be informed accordingly. Yours sincerely, Mr. Somboon Setsuntipong Vice President - Finance and Accounting ______________________________________________________________________ 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.