NEX Increases Registered Capital by 232m Shares to Sell ฿1/Share for Rental Bus Business

NEX Point Public Company Limited (NEX) has approved the company increase the registered capital of 232,005,000 baht from the original registered capital of THB232,005,000 to be the newly registered capital of THB464,010,000 by issuing ordinary shares in an amount not exceeding 232,005,000ordinary shares at a par value of THB1.00per share, totally of THB232,005,000.
For presenting to the shareholders of the company according to the share of shares held by shareholders (Rights Offering) in the ratio of 1existing ordinary share to 1 newly issued ordinary shares with the offering price of THB1.00 per share.
NEX will present to the Extraordinary General Meeting of Shareholders No. 1/2019on 28 August 2019 for further approval.

In the case that all the newly issued ordinary shares of NEX issued and offered to the existing shareholders in proportion to each shareholding (Rights Offering). In this time, the total number of subscribers will be able to raise the amount of approximately THB232 million. NEX will use the money received from new business related to passenger car service, long term operating lease (Operating Lease), vehicle procurement (Fleet Procurement), vehicle design and customization according to fleet tailored modification and cars maintenance (Fleet Maintenance), replacement cars and financial Lease and other related transactions of the company/and/or its subsidiaries with total amount of 130 million baht within the fourth of 2019 to increase the capital. 

Additionally, Nex will also use the money from replaying the original debt to financial institutions in the amount of THB50 million within the fourth quarter of 2019 and used as working capital of the company in the amount of THB52 million.

According to the investment, the Board of Directors has a comment that the issuance and offering of newly issued ordinary shares to the shareholders in proportion to the shareholding (Rights Offering) is appropriate. Reasonable and for the best interest of the company and all shareholders because the company plans to use the proceeds from this fund to operate the rental bus business, which will help generate cash flow and profit for NEX in the future