News Detail

Date/Time
15 Jan 2021 12:33:00
Headline
The office rental agreement renewal (Connected transaction regarding 3 years real estate rental transaction)
Symbol
SMART
Source
SMART
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                Connected transaction

The Executive Committee's meeting of Smart Concrete Public Company Limited ("the
Company" or "SMART") No.1/2021 held on January 4, 2021 has approved the
connected transaction of short-term property rental agreement. The Company had
entered into the office rental agreement with Chonburi Concrete Product Public
Company Limited ("CCP"), the connected person, which details are as follow:

Date of transaction : January 4, 2021

Detail of related parties  : Lessor: Chonburi Concrete Product Public Company 
Limited ("CCP") / the major shareholder who hold the Company's paid up shares at
 73.14% (direct and indirect) (as of recently record date of May 22, 2020)
Lessee : Smart Concrete Public Company Limited ("the Company" "SMART")

Type of transaction : Property rental agreement

Detail of property     : The area of basement(partial), 1st floor, 2nd floor and 
3rd floor(partial)  Located at No.24 Soi Bangna-trad 25, Bangnanuea, Bangna,
Bangkok 10260

Rental period : 3 Years

Duration  :  January 3, 2021 - January 2, 2024

Rental rate : THB 0.12 million per month (exclusive VAT)
Total amount of contract equal to THB 4.42 million (exclusive VAT)

Rental purpose  :    To be used as the Company's office in Bangkok which it has 
used since started business.

Total value of the transaction and the criteria of determination : It is deemed 
as a connected transaction according to the Notification of the Capital Market
Supervisory Board TorJor 21/2551, regarding Ruled relating to connected
transaction, and the SET Notification, regarding Disclosure of information and
the conduct of listed company in related party transaction B.E.2546.
Type of connected transaction : The short-term real estate rental (<3 years).
Transaction size : a medium sized transaction which over THB 1.00 million but 
less than THB 20.00 million (calculated comparing NTA amount of THB 499.36
million from reviewed financial statements as of September 30, 2020). The
Company has no other transaction with this connected person within 6-month prior
enter this transaction. This transaction could approve by the management (as
per the Company's table of authority state that base on the Executive
Committee's approval) and has to be disclosed the information to the Stock
Exchange of Thailand.

Opinion of Executive Committee : The transaction is necessary to the Company for
the flexibility of sale department and accounting department to contact with
partners or related agencies in Bangkok and CBD. The rental rate is reasonable
and close to the market price compared to the market rate of office rental
nearby located in Bangna Complex.
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