(Translation)

No. 80000001/1225

17 December 2020

Subject Dissolution of PTT Public Company Limited's subsidiaries in coal business

To President

The Stock Exchange of Thailand

PTT Public Company Limited ("PTT") would like to inform that PTT Board of Directors, at the meeting No. 12/ 2563 held on 17 December 2020, passed a resolution to dissolve 3 subsidiaries in coal business which are subsidiaries of Sakari Resource Limited ("SAR") (SAR is a subsidiary of PTT Global Management Company Limited ("PTTGM") and PTTGM is a wholly-owned subsidiary of PTT). Details of those 3 subsidiaries are as follows;

  1. Reyka Wahana Digdjaya Pte. Ltd. ("RWD") - a holding company which is registered in Singapore for investment in coal business. Currently, RWD is the dormant company.
  2. Sakari Energy Pte. Ltd. ("SE") - a holding company which is registered in Singapore for investment in coal business. Currently, SE is the dormant company.
  3. PT. Tri Tunggal Lestari Bersama ("TTL") - TTL is registered in Indonesia and holds Jetty License which is no longer utilized.

The resolution to dissolve these 3 companies is aligned with PTT' s strategy in closing down the dormant companies. The dissolution of RWD, SE, and TTL are expected to be completed within 2021.

This transaction is not a connected transaction and the transaction size does not require any disclosure under regulations on acquisition and disposition of assets of the listed companies. However, this is a report that a listed company or its subsidiary company acquires or disposes of an investment in another company, which results in that other company becoming or ceasing to be a subsidiary company of the listed company or its subsidiary company. Therefore, such disposition will result in RWD, SE, and TTL ceasing to be the subsidiaries of PTT.

Please be informed accordingly.

Yours sincerely,

(Mr. Auttapol Rerkpiboon)

President & Chief Executive Officer

Investor Relations Department

Tel +66 2537 3518

Fax +66 2537 3948

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original document
  • Permalink

Disclaimer

PTT pcl published this content on 17 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 December 2020 13:18:04 UTC