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PTT : Establishment of PTT's subsidiary
|11/18/2020 | 11:09am|
18 November 2020
Subject Establishment of PTT's subsidiary
The Stock Exchange of Thailand
PTT Public Company Limited (PTT)'s Board of Directors at the meeting No.09/2020 on 17 September 2020 and No.11/2020 on 18 November 2020 passed the resolution of establishment of Innobic (Asia) Co. , Ltd. , which is 100% owned by PTT Global Management Limited ( PTTGM) ( Subsidiary of PTT) with an initial registered capital of not exceeding Baht 300 million and the capital increase to an approximated amount of Baht 2,000 million, respectively. The objective of the company is to support PTT and PTT Group's future investments according to New S-Curve strategy: Life Science such as pharmaceutical business, nutrition business, and medical device business etc., to enhance PTT's capabilities in life science business, and create value added to the country.
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, this transaction resulted that Innobic (Asia) Co., Ltd. is the subsidiary of PTT.
Please be informed accordingly.
(Mr. Auttapol Rerkpiboon)
President & Chief Executive Officer
Investor Relations Department
Tel +66 2537 3518
Fax +66 2537 3948
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PTT pcl published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2020 16:08:01 UTC