NWR Jumps 6% after Winning the Case, Expecting to Book ฿1.31bn. In Total to the Revenue!

The share price of Nawarat Patanakarn Public Company Limited (NWR) has made a sharp gain right after the opening of the afternoon session. As of 15:15 local time in Thailand, the share price of NWR has risen to ฿0.86/share, hikes ฿0.05/share or 6.17%.

The reason of this sudden hike is due to the announcement that NWR has notified the Stock Exchange of Thailand and investors that, on June 5, 2019, the Appeal Court for Specialized Cases had reviewed the judgment in the civil case relating to rehabilitation process, Red Case No. Por Gor 14/2560, and the Court has ordered Premier Enterprise Public Company Limited to pay NWR as follows:

 

1）To make a payment for the principal for the amount of THB 473,466,980.61 and interest calculated up to April 2, 2012 in the amount of THB 363,754,111.07 making a total of THB 837,221,091.68.

2）To make a payment for the interest at the rate of 7.5% p.a. calculated on the principle of THB 473,466,980.61 from 3 April 2012 until the full payment is made.

 

In addition, NWR has already booked allowance for doubtful debt prior to the year 2005 in the amount of THB 650,797,184.99 being the full debt outstanding amount and if NWR receives the payment of the amount, it will be considered as payment of doubtful debt.

The Company has submitted the matter to the Legal Execution Department to notify to sequestrate the ordinary shares of Premier Inter Leasing Co., Ltd., the Subsidiary of Premier Enterprise Public Company Limited, in the amount of 15,660,129 shares which is held by Premier Enterprise Public Company Limited, such shares must be sold and use the proceeds to repay NWR.