SUPER Invests ฿130M in “Super Water Company” to Expand the Business in Water Utility

Super Energy Corporation Public Company Limited (SUPER) has announced the resolution of the Board of Directors’ Meeting on June 26, 2019, to resolve in approval of SUPER to enter into the purchase of common shares of Super Water Company Limited (SUPERW) at the value of THB 129,999,974.

SUPERW is a manufacturer and distributor of tap water from a group of people who are connected persons, including Meechai Thailand Law Office Co., Ltd. (MTL) and Advanced Asset Management Service Co., Ltd. (AAMS)

The acquisition of the ordinary shares of SUPERW also resulted in the Thai Panichnawa Construction and Langnumthai Joint Venture Co.,Ltd. (JVTPN), which is a manufacturer and distributor of tap water. There is a subsidiary company of SUPER which SUPER will indirectly hold 90% of JVTPN shares.

SUPER intends to purchase the common shares of SUPERW from Mr. Jhomsup Lochaya, who is a connected person, totaling 9,999,998 shares, equivalent to 100.00% of the registered capital of 10,000,000 shares with a par value of THB10 per share at a price of THB13 per share, representing a total price of THB129,999,974. Which after entering into the transaction also resulted in JVTPN is a subsidiary company of SUPER which SUPER will indirectly hold 90% of JVTPN shares.

According to the investment in SUPERW, SUPER expects to creates opportunities for expansion into the water utility business, which has increased every year according to the growth of the community and the industry and add more sources of income, whereby the parties of the company are currently such as The Provincial waterworks authority and private companies that are reliable and have stable financial status. Therefore, the income will be stable and continuous in the long run. This investment also increases the variety of investments and It is a diversify investment risk. Moreover, the investment is adding the value to SUPER and the shareholders of the Company in the long term.

The source of funds that SUPER will use for entering into the transaction, totaling THB129,999,974 will come from working capital and cash from the company’s performance that will be received normally during the operation of the company.