VGI Invests ฿100 M. to Acquire 25.01% of ACP, Engaging in Boats Advertising Media

On 26 April 2019, VGI Global Media Public Company Limited (VGI) has entered into the Share Purchase and Subscription Agreement (SPSA) for the investment in shares of Ads Chao Phraya Company Limited (ACP), which is a private limited company incorporated under the laws of Thailand.

VGI purchased the existed shares from the existing shareholder of ACP which is Silver Pendulum Limited (SPL) in an amount of 1,429 shares with a par value of THB 100 per share at a price of THB 34,989.50 per share with the total value of THB 50,000,000 (The purchase price) and subscribing newly issued ordinary shares of ACP in the amount of 1,429 shares, with a par value of THB 100 per share, at a price of THB 34,989.50 per share, with the total value of THB 50,000,000.  The ACP’s shares to be acquired are in total of 2.858 shares, with a par value of THB 100 share, which is equivalent to 25.01 percent of the total issued shares of ACP (after the issuance and offering of newly issued ordinary shares pursuant to this transaction), with the total consideration of THB 100,000,000 (the ACP shares Acquisition Transaction).

In this regard, upon receiving the Purchase Price from the Company, the SPL will utilize the consideration in the amount of THB 42,523,573.32 to subscribe for the newly issued ordinary shares of the company which are to be issued and offered through the private placement under the general mandate, which has been approved by the 2018 Annual General Meeting of Shareholder of the Company, in the amount of 4,485,609 shares at subscription price of THB 9.48 per share.