Boards of TTCL Approve the Disposal of TTGP, Booking ฿2.7bln. by the End of May

TTCL Public Company Limited (TTCL) has announced that the Board of Directors on April 10, 2019, resolved to approve the disposal of investment in the ordinary shares of TTCL Gas Power Pte. Ltd. (TTGP), an indirect subsidiary of TTCL, held by TTCL Power Holdings Pte. Ltd. (TTPHD), 100% subsidiary of TTCL, in the total amount of 29,700,000 shares, representing 60% of the total shares of TTGP.

In this regard, 60% of TTGP will be disposed to two potential investors equally, totaling USD 85,000,000 or around THB 2.7 billion. It is expected that the disposal of investment in TTGP in will be completed within May 31, 2019.

TTCL will propose this matter for an approval in the Extraordinary General Meeting of Shareholders on May 22, 2019.