JKN Establishes 3 Diversified Businesses and Dispose 2 Subsidiaries to Book ฿40Mn

JKN Global Media Public Company Limited (JKN) has announced three new established subsidiaries as well as two disposal of assets, which were approved by its Board of Directors.

 

JKN has established three subsidiaries as follows;

1) JKN Hair Now Co., Ltd. with a registered capital of THB 10,000,000 to operate the full-service business regarding hair treatment.

2) JKN Wandee College Co., Ltd. with a registered capital of THB 50,000,000 to operate the business of culinary institute.

3) JKN Aura Co., Ltd. with a registered capital of THB 10,000,000 to operate the business of cosmetic and plastic surgery clinics.

 

Furthermore, the company announced two disposal of assets in JKN IMC Co., Ltd. and JKN Knowledge Co., Ltd. to Mrs. Wichuda Na-songkhla Sriyaphai and Mrs. Ampai Jakrajutatip, respectively.

 

JKN stated that due to the company has a plan to do business with Mrs. Wichuda Na-songkhla Sriyaphai through the investment in JKN IMC Co., Ltd. (JKN IMC), a subsidiary of the company. In this regard, Mrs. Wichuda Na-songkhla Sriyaphai will receive 1 JKN IMC’s share from Miss Pimauma Jakrajutatip in order to become a JKN IMC shareholder within December 2020.

After Miss Wichuda Na-songkhla Sriyaphai has become a shareholder of JKN IMC, JKN IMC has its plan to increase its registered capital by 42,900 shares with a par value of THB 100 per share, totaling THB 4,290,000 from the existing registered and paid-up capital of THB 10,000,000 to be THB 14,290,000, whereby the Board of Director meeting of the company No. 9/2020 is resolved to approve the waiver of the company (as one of shareholders)’s entire right to subscribe the newly issued shares proportionately to its shareholding percentage in JKN IMC (right offering) (and Mr. Jakkaphong Jakrajutatip who is an existing shareholder of JKN IMC also propose to waive his right) in order to allow Miss Wichuda Na-songkhla Sriyaphai, after becoming a shareholder holding 1 share in JKN IMC), to subscribe all of the newly issued shares of JKN IMC.

After the aforementioned capital increase, the shareholding structure of JKN IMC Co., Ltd. will be as follows:

In this regard, the aforementioned waiver of the right to subscribe the newly issued shares in JKN IMC is regarded as a disposal of assets by the company pursuant to the Notifications on Acquisition or Disposition of Material Assets.

 

Additionally, the Board of Directors resolved to approve the disposal of all 10,000 ordinary shares in JKN Knowledge Co., Ltd. (JKN Knowledge), a subsidiary of JKN which the company holds the 99.99 percent of total issued and paid-up shares of JKN Knowledge, with a par value of THB 100 per share or representing 100 percent of the registered and paid-up capital of the company at the price of THB 2.56 totaling of THB 25,594.88 which is close to the Net Price Value of such share to Mrs. Ampai Jakrajutatip, JKN’s connected person, wherebyJKN anticipates to complete the JKN Knowledge Share Disposal Transaction within December 2020.

The execution of the JKN Knowledge Share Disposal Transaction is regarded as a disposal of assets by JKN pursuant to the Notifications on Acquisition or Disposition of Material Assets.