BTS Targets 1.1Bn Shares of Capital Increase to PP and Increase Debenture Amount by ฿30Bn

The Board of Directors of BTS Group Holdings Public Company Limited (BTS) has passed the resolution to approve the plan for the increase of the company’s registered capital under a general mandate in the amount of not exceeding Baht 4,400,000,000.00 (or representing approximately 8.36% of the company’s paid-up capital) by issuing not exceeding 1,100,000,000 newly ordinary shares with a par value of Baht 4 per share for offering to potential specific investors (private placement).

 

BTS will reduce of the company’s registered capital by Baht 4,574,781,048.00 from the existing registered capital of Baht 62,618,389,192.00 to Baht 58,043,608,144.00 by cancelling 1,143,695,262 authorized but unissued shares of BTS with a par value of Baht 4 per share, which comprises (1) 1,100,000,000 shares with a par value of Baht 4 per share reserved to accommodate the offering to potential specific investors (private placement).

Therefore, the increase of BTS’ registered capital under a general mandate will provide the company a source of funds to accommodate its future investment plan in a timely manner. The company has a plan to utilize the funds for investing in various projects to expand its business, as well as utilizing as working capital for the future business operation of BTS and its subsidiaries.

Nevertheless, the sum of funds to be utilized in such investments is still uncertain and subject to the opportunity and worthiness of such investments at a particular time, and which, after comparison with debt financing, will not reduce the earnings per share ratio.

 

Moreover, the Board has also passed the resolution to propose to the shareholders’ meeting to consider and approve the issuance and offering of the debentures of BTS for an amount, at any time, not exceeding Baht 60,000 million (or the equivalent amount in any other currencies), which is considered as an increase in the amount of debentures to be issued, by another Baht 30,000 million from the existing amount of Baht 30,000 million, which has been approved by the 2016 Annual General Meeting of Shareholders of BTS, to accommodate the investments, business expansions and business operations of BTS, to enhance the liquidity and debt-service capacity of the company for the purposes of debt repayment and redemption of the existing debentures issued by the company, and to use as working capital of the company.

 

Due to the pandemic, BTS has scheduled the new date for the Annual General Meeting of Shareholders to be on July 20, 2020, at Bangkok Convention Centre (BCC Hall), 5th Floor, Central Plaza Ladprao, No. 1697 Phaholyothin Road, Chatuchak Subdistrict, Chatuchak District, Bangkok 10900, at 1.30 P.M.