True Corporation Public Company Limited (SET: TRUE) has announced that its Board of Directors at the meeting on 18 February 2022 approved the amalgamation between the company and Total Access Communication Public Company Limited (SET: DTAC) under the provisions of Public Limited Companies Act B.E. 2535, as amended (the PLCA) (the Amalgamation) and approved for TRUE enter into an amalgamation agreement with dtac to set forth the terms and conditions of the Amalgamation as well as proposed to the 2022 Annual General Meeting of the Shareholders for approval of the Amalgamation.
As part of the process of the Amalgamation, there will be an allocation of shares in a new company which will be created as a result of the Amalgamation (NewCo) to the shareholders of TRUE and DTAC. 1 existing share in TRUE equals to 0.60018 shares in NewCo, and 1 existing share in DTAC equals to 6.13444 shares in NewCo.
The shareholder meeting will be held on 4 April 2022, which will include the agenda for the approval of this amalgamation.
After the registration of NewCo, NewCo will submit a final listing application and other required documents to the SET. Once the SET approves the listing, the shares of NewCo will become listed securities and the shares of TRUE and DTAC will be delisted from the SET on the same day.
Shareholders can also opt to sell TRUE’s shares through a tender offer at an offering price of THB5.09 per share.
In addition, the Board of Directors approved a dividend payment of THB0.07 per share to be paid on 3 May 2022. The ex-dividend date is 11 March 2022.
