GULF Successfully Acquires 10% of INTUCH, Positioning at 3rd Major Shareholders

Gulf Energy Development Public Company Limited (GULF)’s has made an announcedment through the Stock Exchange of Thailand (SET) pertaining to the Board of Directors’ resolution to approve the Company’s investment in the ordinary shares in Intouch Holdings Public Company Limited (INTUCH) up to 10.00 per cent of the total issued and paid-up shares in INTUCH within the budget of 19,000 million baht by sale and purchase through the SET and/or by any other means as deemed appropriate under relevant laws and regulations of the Office of the Securities and Exchange Commission (SEC) and the SET.

In this regard, GULF announced that as of October 6, 2020, the Company holds 320,650,943 ordinary shares in INTUCH, representing 10.00 per cent of the total issued and paid-up shares in INTUCH, in accordance with the resolution of the Board of Directors.

 

Moreover, GULF also stated  that on October 6, 2020, the company’s Board of Directors’ Meeting resolved to approve the establishment of the Company’s subsidiary, Gulf1 Company Limited, with a registered capital of Baht 100,000,000 in which the Company will hold 99.99% of registered shares. The subsidiary has been established to operate solar energy related businesses such as solar farms, including solar rooftops and providing a full range of maintenance services for such systems.