WHA Corporation Public Company Limited (SETT: WHA) has informed the Stock Exchange of Thailand that the Board of Directors’ Meeting No. 1/2025 on February 21, 2025 passed the resolution approving Mobilix Company Limited (Mobilix), a subsidiary in which the company indirectly holds approximately 100% of the shares through WHA Venture Holding Company Limited, to acquire shares of WHA Future Energy Company Limited WHAFE) from WHA Energy Company Limited (WHAEG).
The acquisition will be totaling 6,399,998 shares or equivalent to approximately 100% for a value of approximately THB 59.24 million (which is the book value of WHAFE). Both WHAFE and WHAEG are indirect subsidiaries of the company, with WHA Utilities and Power Public Company Limited holding approximately 100% of their shares.
This transaction is in accordance with the material terms and conditions outlined in the Share Purchase Agreement to be entered into by Mobilix and WHAEG. The completion of the share purchase is anticipated within March 2025 or as mutually agreed upon by Mobilix and WHAEG.
This transaction represents a business restructuring to enable Mobilix, the operator of the Built-to-Suit EV Ecosystem of Logistics, whose main service is electric vehicle (EV) rental. This restructuring will enhance Mobilix’s ability to efficiently and comprehensively serve its electric vehicle rental customers. It marks the initial step in the formation of the WHA Mobility business group.
WHAFE was established in 3 March 2023 to provide services and sell electricity through EV charging stations (currently, in addition to the EV Charging business, WHAFE also has a Peer-to-Peer Energy Trading Platform business. WHAFE plans to restructure by transferring this business from WHAFE to WHAEG before selling WHAFE shares to Mobilix).
Following the sale of WHAFE shares to Mobilix, WHAFE will operate a business providing services and selling electricity through EV charging stations to electric vehicle customers. This business is an integral part of WHA Mobility, which is managed by Mobilix. Additionally, most customers are those who lease or purchase electric vehicles from Mobilix.
