Super Corporation Public Company Limited (SUPER) announced that the Board of Directors’ Meeting held on November 15, 2021 had the resolution to approve Super Solar Energy Co., Ltd (SSE), a subsidiary of the company, to purchase shares in the Power Technology International Co., Ltd (PTI), a subsidiary of the company from Miss.Chatchanun Boontanapiboon which is the existing shareholders in PTI amount of 4,607,449 shares, representing 50.996% of the total shares at the price of 165 baht per share, with the total value of the transaction not exceeding 760,229,085 baht. After the transaction, SSE’s shareholding in PTI will increase from 49.00% to 99.996% and SSE having voting rights and receiving dividends increased from 51.38% to 99.996%.
PTI operates nine solar power plant projects with capacity of 55.60 megawatts and have already been commercial operation to the Provincial Electricity Authority in 2016. This acquisition of shares in PTI will increase the opportunity for revenue recognition, increase control and flexibility in management and reduce conflicts of interest with other groups of shareholders.
This acquisition of shares in PTI will increase the opportunity for revenue recognition, increase control and flexibility in management and reduce conflicts of interest with other groups of shareholders.
In addition, SUPER announced on the same day that it has established a new subsidiary, Super Solar Hybrid Company Limited, on October 4, 2021, with a registered capital of 100,000 baht and a current registered capital of 5,000,000 baht, to produce and sell electricity generated by renewable energy.
