RATCH Completes Acquisition of SCG, Increasing the Company’s Capacity to 10,000MW by 2025
This investment aligns with the goal to increase RATCH’s total generation capacity of 10,000 MW and total business value of THB 200,000 million by 2025
RATCH Group Public Company Limited (RATCH) announced that the company has completed the purchase of the ordinary shares of Sahacogen (Chonburi) Public Company Limited (SCG) from 34 shareholders in the total amount of 384,789,131 shares, and the purchase of newly issued ordinary shares of SCG which has been issued and allotted to a specific person (Private Placement) in the amount of 208,695,652 shares whereby SCG has registered the change of its paid-up capital with the Ministry of Commerce and after the issuance and allotment of such new ordinary shares to the company was complete on 13 December 2021.
RATCH has therefore acquired a total amount of 593,484,783 ordinary shares in SCG, equivalent to 51 percent of the total issued shares in SCG, which resulted in SCG becoming a subsidiary of the company.
The acquisition of the aforementioned ordinary shares of SCG results in the company being obliged to make a tender offer for the remaining shares in SCG in the total amount of 570,210,869 shares (equivalent to 49 percent of the total issued shares in SCG) at the price of THB 5.75 per share in accordance with the rules and conditions prescribed under the Notification of the Capital Market Supervisory Board No. TorChor. 12/2554Re: Rules, Conditions and Procedures for the Acquisition of Securities for Business Takeovers (as amended).
In this regard, the company, as the person who announced the intention to make a tender offer for all of the remaining shares in SCG, has submitted the Announcement of Intention to Make a Tender Offer for the Business Takeover to the Office of Securities Exchange Commission, the Stock Exchange of Thailand and SCG on 14 December 2021.
This investment aligns with the goal to increase the company’s total generation capacity of 10,000 MW and total business value of THB 200,000 million by 2025. This investment is also in line with the sustainable growth strategies in power plant, infrastructure and other related businesses whereby the company will use its loan or working capital as the source of funds for this investment.