TTCL Falls 2% after the Disposal of TTGP to Acquire ฿1.33 billion

As of 11.30 am local time in Thailand, the share price of TTCL has declined by 0.20 points or 2.41%, highest at THB 8.45 and lowest at THB 8 with trading value THB 35,079,000 million. A decrease of TTCL’s share price might be the effect from the disposition of investment in TTGP.

According to TTCL Public Company Limited (TTCL) has approved disposition of Investment in TTCL Gas Power Pte. Ltd. (TTGP), an indirect subsidiary of TTCL in the total amount of 29,700,000 shares or 60% of the total shares of TTGP held by TTCL Power Holdings Pte. Ltd. (TTPHD), a subsidiary of TTCL in which the Company directly holds 100 percent of the total shares of TTPHD.

TTCL has informed that TTPHD, a subsidiary company, received the payment on Disposition of Investment in TTGP, at the total amount USD 85,000,000 (Approximately THB 2,674,573,536.25) from 2 purchasers which are Chugoku Electric Power Singapore Pte. Ltd. (Chugoku) in a total amount USD 42,500,000 (Approximately THB 1,337,105,721.05) and SEP International Netherlands B.V. (Shikoku), total amount USD 42,500,000 (Approximately THB 1,337,105,721.05). Additionally, after disposition investment in TTPG had completed, TTPHD holds 40 percent of issued and paid-up shares of TTGP.