OSP Announces a ฿40M. Capital Increase in Subsidiary to Invest in Beverage Company!
OSP had made a capital increase in its subsidiary at the amount of THB 39,780,0001 to further its investment in Basecamp Brews Limited (BCB).
Osotspa Public Company Limited (OSP) had made an announcement that the company had increased and paid-up the additional capital in Oventure Pte. Ltd. (which is a wholly-owned subsidiary of OSP holding through Osotspa Enterprise Company Limited) in the amount of GBP 1,000,000, equivalent to THB 39,780,0001. Such capital increase shall be utilized for additional investment in Basecamp Brews Limited (BCB) according to the investment schedule with reference to the Disclosure Letter No. CS 11/2018 dated December 26, 2018 named “Investment through its indirect wholly-owned subsidiary in a beverage company”.
In addition, on 7 June 2019, OSP had invested in BCB (through Oventure Pte. Ltd. which is a wholly-owned subsidiary of the Company holding through Osotspa Enterprise Company Limited) in the amount of GBP 1,000,000 for subscription of new ordinary shares in the amount of 2% of total shares in BCB. This additional investment has been made in accordance with the Investment Agreements signed by Oventure Pte. Ltd., BCB and the relevant parties.
With respect to additional portion of 4% of total shares in BCB, the Company will further acquire such shares in BCB in accordance with the approval of the board of directors within the year 2020 and the Company will inform the SET accordingly.