JAS Approves the Disposal of Optical Fiber Cables Worth ฿38bn to JASIF

Jasmine International Public Company Limited (JAS) has announced that the Board of Directors had approved the disposal of the Optical Fiber Cables (the OFCs) to the Fund (JASIF).

On August 15, 2019, the Board of Directors had approved the disposal of the Optical Fiber Cables (OFCs) in an amount of approximately 700,000 core km. (Additional OFCs) whereby Triple T Broadband Public Company Limited (TTTBB), which is the subsidiary of JAS, intends to sell the Additional OFCs to the Fund with the transaction value of approximately THB 38,000 million.

 

the Main Additional OFCs Lease Agreement from the Fund amounting to approximately 80% of the total Additional OFCs TTTBB sold and delivered to the Fund.

In 2019, the rental fees of the Initial Main OFCs is approximately THB 433.21 per core km. per month. The lease term is approximately 12 years 2 months and will expire on 29 January 2032 which is the expiration date of the Type 3 Telecommunications Business License of TTTBB.

JAS asserted that the company wished to subscribe for the newly-issued investment units of the Fund in proportion to its unitholding percentage in the Fund. JAS may subscribe for the newly-issued investment units more than the rights to which it is entitled. Nevertheless, JAS will subscribe for the newly-issued investment units in the maximum amount of not exceeding 33% of the total investment units of the Fund after the capital increase.

JAS had approved OptAsia Capital Co., Ltd. as the independent financial advisor for providing opinion regarding the entering into of the acquisition and disposal of assets transactions.

The company will hold the Extraordinary General Meeting of Shareholders No. 1/2019 on Wednesday 25 September 2019 at 10.00 hrs. at Auditorium, Jasmine International Tower, 3rd floor, No. 200, Moo 4, Chaengwatana Road, Pakkred Sub-district, Pakkred District, Nonthaburi 11120, for the approval on this matter.