GULF Tops Up Stakeholding in INTUCH to 8%, Booking ฿300M from Dividend in 3Q!

Gulf Energy Development Public Company Limited (GULF) has announced that the Board of Directors’ of the company has resolved to approve the company’s investment in the ordinary shares in Intouch Holdings Public Company Limited (INTUCH) up to 10.00% of the total issued and paid-up shares in INTUCH.

 

The investment will be done by sale and purchase through the Stock Exchange of Thailand (SET) and/or by any other means as deemed appropriate under relevant laws and regulations of the Office of the Securities and Exchange Commission (SEC) and the SET.

 

As of August 21, 2020, GULF holds ordinary shares in INTUCH representing 7.99% of the total issued and paid-up shares in INTUCH. However, the source familiar to the matter reported that the share purchase agreement between GULF and INTUCH occurred before August 20, 2020, which is the ex-dividend date of INTUCH’s dividend payment of ฿1.15/share.

In this regard, GULF, as a holder of 256.28 million shares in INTUCH, will book a total of 294.73 million baht. The dividend payment date is September 3, 2020, which will directly record in GULF’s 3Q20 earnings.