SGAH

AAPICO Hitech Public Company Limited (AH) has announced that its subsidiary, AAPICO Investments Pte. Limited, had entered into the transaction to invest in Sakthi Global Auto Holdings Limited (SGAH), which is at present an associate of AH, at the amount of 65 million dollars, or equivalent to approximately 2,138 million baht. This is to support and strengthen the strategic partnership and enhance the synergies between AH and SGAH in order to grow their business in the global market. The total investment of USD 65 million consists of: (1) newly issued ordinary shares in SGAH in the amount of 4,977 shares at the par value of USD 1, representing 24.89% of all registered and paid-up shares of SGAH, at the total value of 25 million dollars or equivalent to approximately 827 million baht. (2) grant of loan by AH to SGAH at the total amount of 40 million dollars or equivalent to approximately 1,311 million baht, with the interest rate of 10.00% per annum for a period of 3 years ((1) and (2) collectively referred to as the “Transaction”). The loan of 40 million dollars is secured by the personal guarantee of the owner of Sakthi Group, Dr. Manickam Mahalingam, and CEO of Sakthi Automotive Group USA, Inc., Mr. Lalit Kumar, and the pledge of shares in SGAH and its subsidiary to AH. AH sees good opportunity to gain stronger footprint in the global market by this investment. Also, AH will have in general greater management participation in SGAH to give more support and necessary controls in the weak areas with the increase in AH’s direct and indirect equity holding in SGAH from 25.10% to 49.99% of all registered and paid-up shares of SGAH.

AH Pours ฿2.1bln. Adding Stake to 49.99% in SGAH’s Shares.

บริษัท บูรพาทัศน์ (1999) จำกัด