MINT Announces a Capital Increase of over 1 Million Shares and Issues MINT-W7!

Minor International Public Company Limited (MINT) has announced that the Board of Directors Meeting on May 18, 2020, approved to propose that the Shareholders’ Annual General Meeting consider and approve the increase of the registered capital of MINT by 1,037,955,941 Baht from 4,849,860,006 Baht to 5,887,815,947 Baht by issuing up to 1,037,955,941 new ordinary shares each at the par value of 1 Baht.

 

The purposes of the issuing are as followings’ 1) to offer to the existing shareholders of MINT in proportion to their respective shareholdings (Rights Offering) to reserve for the exercise of the right to purchase ordinary shares under the company’s warrants to purchase ordinary shares No.7 (MINT-W7), which will be issued to existing shareholders of the company in proportion to their respective shareholdings and 3) to reserve for the adjustment of the exercise ratio of MINT-W6 warrants in accordance with the Terms and Conditions governing the Rights and Obligations of the Issuer and Holders of the Warrants to purchase ordinary shares of Minor International Public Company Limited No.6 (MINT-W6).

The allocation will be up to 716,124,785 new ordinary shares for an offering to the existing shareholders of MINT in proportion to their respective shareholdings at the ratio of not lower than 6.45 existing ordinary shares to 1 new ordinary share.

The new issuance of up to 313,831,156 units for allocation to existing shareholders of MINT in proportion to their respective shareholdings at no offering price, (zero Baht) at the ratio of 17 ordinary shares to 1 unit of warrant.

 

The Board of Directors also approved the allocation of up to 8,000,000 shares for the adjustment of the exercise ratio of MINT-W6 warrants due to the offering of new ordinary shares in the Rights Offering at a price which may be lower than 90 percent of the market price in accordance with the Terms and Conditions governing the Rights and Obligations of the Issuer and Holders of the Warrants to purchase ordinary shares of Minor International Public Company Limited (MINT-W6).

MINT has determined the record date for determining the rights of the Company’s shareholders who will be offered to subscribe for new ordinary shares in the Rights Offering will beJuly 9, 2020. Therefore, the first date that the SET has posted the “XR” sign will be July 8, 2020.

 

The agenda will be proposed in the Shareholders’ Annual General Meeting on June 19, 2020, for approvals.