-Translation-

CSO S64-094

May 10, 2021

To President

The Stock Exchange of Thailand

Subject: SCG Packaging Public Company Limited enters into 75% Share Purchase Agreement in Intan Group (Indonesia)

The Siam Cement Public Company Limited (or "SCC") hereby announce that SCG Packaging Public Company Limited (or "SCGP"), a subsidiary of SCC, has disclosed the information of entry into 75% Share Purchase Agreement in Intan Group (Indonesia) to the Stock Exchange of Thailand as per details in the attachment.

This transaction is considered an acquisition of new subsidiaries. As it has been under the finalization process of share purchase price, the calculation of the total transaction size, following the disclosure rule for the acquisition and disposition of assets of the Stock Exchange of Thailand, has yet to carry out. Nonetheless, the estimation to this transaction when combined with those in the past six months prior to the date of this transaction is less than 15% of total assets stated in SCC's consolidated financial statements as at December 30, 2020. This transaction is not a connected transaction.

Please be informed accordingly.

Yours faithfully,

- Signed-

(Mr. Roongrote Rangsiyopash)

President & CEO

The Siam Cement Public Company Limited

-Translation-

CSO-SCGPS64-029

May 10, 2021

To President,

The Stock Exchange of Thailand

Subject: SCGP Enters into 75% Share Purchase Agreement

with Intan Group (Indonesia)

SCG Packaging Public Company Limited ( or " SCGP" ) , hereby announces the signing of a conditional share purchase agreement to acquire a 75% stake in PT Indonesia Dirtajaya Aneka Industri Box, PT Bahana Buana Box and PT Rapipack Asritama (collectively, "Intan Group") on May 10, 2021 while the remaining stake will be held by existing owners. The purchase will be through TCG Solutions Pte. Ltd. , which is a wholly owned subsidiary of Thai Containers Group Company Limited ( or " TCG" ) , a 70: 30 joint venture between SCGP and Rengo Company Limited, Japan. Closing transaction details will be provided in the middle of 2021.

Intan Group is one of Indonesia's leading corrugated container producers and operates in 4 strategic locations namely Surabaya in East Java, Semarang in Central Java, Bekasi in West Java, and Minahasa in North Sulawesi. Its clients are mainly multi- national companies and local brand owners in the food, beverage and consumer segments. In 2020, Intan Group recorded revenue of 1,329 billion Rupiah ( approximately 94 million USD, or 3,057 million Baht) and had combined assets of 755 billion Rupiah (approximately 53 million USD, or 1,737 million Baht).

This acquisition of Intan Group is an expansion of SCGP's downstream paper-based packaging across Indonesia, enhancing SCGP's capability to serve customers, and reaffirms SCGP's commitment and belief in Indonesia's strong economic growth prospects, while supporting the vibrant consumer sectors' supply chain. Moreover, SCGP can achieve greater synergy value, not only through combined customer portfolio, but also from leveraging operational strength, as well as strengthen internal integration with its packaging paper company, PT Fajar Surya Wisesa Tbk.

SCGP is committed to fulfil the changes of preferences towards sustainable packaging trend globally and also offering products ranging from fiber-based packaging to performance & polymer packaging and other diversified solutions, with facilities in over 40 plants across Thailand, Vietnam, Indonesia, the Philippines and Malaysia. Listed on the Stock Exchange of Thailand on October 22, 2020, SCGP has a current market capitalization of approximate $7.7 billion (240,000 million Baht). Please click www.scgpackaging.comfor further details.

This transaction is considered as an acquisition of new subsidiaries. As it has been under the finalization process of share purchase price, the calculation of the total transaction size, following the disclosure rule for the acquisition and disposition of assets of the Stock Exchange of Thailand, has yet to carry out. Nonetheless, the estimation to this transaction when combined with those in the past six months prior to the date to this transaction is less than 15% of total assets stated in SCGP' s consolidated financial statements as at December 31, 2020. This transaction is not a connected transaction.

Please be informed accordingly.

Yours faithfully,

-signed by-

(Mr. Wichan Jitpukdee)

Chief Executive Officer

SCG Packaging Public Company Limited

Attachments

  • Original document
  • Permalink

Disclaimer

Siam Cement pcl published this content on 10 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 12:49:02 UTC.