Gulf Energy Development’s CEO Sarath Ratanavadi expressed his intention to purchase shares from GULF and INTUCH’s dissenting shareholders that disapproved the merger.
Reference is made to the notification to the Stock Exchange of Thailand (the SET) by Gulf Energy Development Public Company Limited (SET: GULF) dated 3 October 2024 regarding the arrangement for a purchaser to purchase shares of the Company from the shareholders attending the shareholders’ meeting and voting against the amalgamation between the Company and Intouch Holdings Public Company Limited (SET: INTUCH or the Dissenting Shareholders) in the Extraordinary General Meeting of Shareholders No. 1/2024 of the Company, as detailed in the Reference.
In this regard, the Company would like to notify you that Mr. Sarath Ratanavadi has expressed his intention to be the purchaser of shares from the Dissenting Shareholders (the Purchaser) at the price of THB 56.50 which is the closing price of the Company’s shares traded on the SET on 2 October 2024, and the Purchaser will proceed to purchase the shares from the Dissenting Shareholders in the period from 17 to 30 October 2024.
Additionally, Mr. Sarath Ratanavadi also expressed his intention to be the purchaser of shares from the Dissenting Shareholders (the Purchaser) of INTUCH at the price of THB 91.00 which is the closing price of the Company’s shares traded on the SET on 2 October 2024, and the Purchaser will proceed to purchase the shares from the Dissenting Shareholders in the period from 17 to 30 October 2024.
There were 715,100 of GULF’s shares to be purchased, totaling 40.4 million baht. Meanwhile, the accumulation of shares to be purchased from INTUCH is 33,794,783 shares, totaling 3.08 billion baht.
