Erawan Group Public Company Limited (SET: ERW) announced that its Board of Directors’ Meeting held on January 24, 2022 has approved the restructuring of shareholding of the company in Erawan Hop Inn Co., Ltd. in which the company holds 99.99%of the shares, by establishing a new subsidiary, Erawan Budget Hotel Co., Ltd.
The registered capital of the new subsidiary company is THB2,433 million, divided into 243,300,000 ordinary shares with par value of THB10 per share. This establishment’s objective is not only to support the restructuring of subsidiary shareholdings, but also to support the expansion of budget hotels in Thailand and abroad. ERW will register for the establishment of a new subsidiary within February 28, 2022.
Regarding to the restructuring of investment in Erawan Hop Inn Co., Ltd., ERW will dispose of 243,299,997 ordinary shares in Erawan Hop Inn Co., Ltd. at par value of THB10 to Erawan Budget Hotel Co., Ltd.
