News Detail

18 Jan 2021 12:32:00
The office rental agreement renewal (Edit) (Connected transaction regarding 3 years real estate rental transaction)
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                Connected transaction

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  :  Renewal of property rental agreement

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

Rental period  :  3 Years

Duration      :  January 3, 2021 - January 2, 2024

Rental rate  :  THB 128,400 per month (inclusive VAT)
Total amount of contract equal to THB 4,622,400 (inclusive VAT), rental rate is 
equal to previous contract.

Term of payment    :  Monthly payment

Pricing criteria  :  Rental rate was agreed as same rate as previous contract 
when being compared to the market rate of office rental nearby located in Bangna

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.
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.