U Gains 7% after the Success in Disposing “Underwood” to Book ฿356Mn
U extended its gain after booking 356 million baht from the disposal of Underwood Street Limited.
The share price of U City Public Company Limited (U) continued to rise after the announcement that its subsidiary has successfully sold its shares in Underwood Street Limited at a value of GBP 8,000,000 (or equivalent to 356,713,600 baht).
As of 15:25 local time in Thailand on June 10, 2021, U rose ฿0.07/share or 7.14% to trade at ฿1.05/share with a trading value of 833 million baht.
Yesterday, the share price closed 2.08% higher at ฿0.98/share.
Reference is made to the fact that the Annual General Meeting of the Shareholders for the year 2021 which held on Wednesday, 31 March 2021, has resolved to approve a disposal of 3,300,001 shares in Underwood Street Limited (Underwood) which held by Lombard Estate Holdings Limited (LEH), with a par value of GBP 1 per share, equivalent to 100 percent of the total shares, and all shareholder loan payable to LEH by Underwood, with a purchase price in the total amount of not less than GBP 2,625,000 (or equivalent to Baht 105,408,581.25) Material asset of Underwood comprises a leasehold over an office building in United Kingdom.