SKY ICT Public Company Limited (SET: SKY) has announced its Board of Directors’ resolution on a capital increase by way of right offering and private placement to executives in three Tha-listed companies to strengthen its business.
The board resolved for an increase of the company’s registered capital of THB 45,606,664.50 from the existing registered capital of THB 312,133,287.50 to THB 357,739,952.00 by issuing not exceeding 91,213,329 ordinary shares with a par value of THB 0.50 per share at the offering price at THB 13 per share and at the ratio of 20 existing shares per 1 newly issued share to support the offering to the existing shareholders proportionate to their respective shareholding (Rights Offering) in the total amount of 31,213,329 shares.
The company also approved to issue and offer to specific persons by way of private placement in the total amount of 60,000,000 shares to these following persons;
1) An allocation of the newly issued ordinary shares of not exceeding 35,000,000 shares at a par value of THB 0.50, with the offering price of THB 16.80 per share, in a total value of THB 588,000,000 to Mr. Palin Lojanagosin, Chairman of Executive Director and Chief Executive Officer of Plan B Media Public Company Limited (SET: PLANB).
2) An allocation of the newly issued ordinary shares of not exceeding 20,000,000 shares at a par value of THB 0.50, with the offering price of THB 16.80 per share, in a total value of THB 336,000,000 to Mr. Sura Kanitthaweekul, Vice Chairman, Executive Chairman, Chief Executive Office of Com 7 Public Company Limited (SET: COM7).
3) An allocation of the newly issued ordinary shares of not exceeding 5,000,000 shares at a par value of THB 0.50, with the offering price of THB 16.80 per share, in a total value of THB 84,000,000 to Mr. Thanutham Kiatpaiboon, Director of TQR Public Company Limited (mai: TQR).
SKY stated that funds raised by issuing and offering new ordinary shares to existing shareholders of the company in proportion to the number of shares held by each of them (Right Offering)., the company will use the money for business including enhancing the financial liquidity of the company. The proceeds from the capital increase will be used to secure credit lines for both current projects and future projects. and to be working capital for project management which is the main business of the company Both now and in the future.
Meanwhile, the issuance and offering of shares to specific persons by way of private placement (Private Placement) is to support future investment expansion of the company and its subsidiaries to support the expansion of the company’s business which is working capital for the operation of more than 10 projects of the company that the company and its subsidiaries plan to participate in additional bidding which is an aviation service project , digital platform, and internet service and for the company better financial structure and financial status including having business alliances that may help promote and extend the business of the company in the future.
Noted that the company recently announced on January 19, 2023, the Office of the National Economic and Social Development Board announced that the company and its subsidiaries were the winner of the bidding for the said project with a total value 1,237,299,919.00 baht (one thousand two hundred thirty-seven million two hundred ninety-nine thousand nine hundred and nineteen baht) (including VAT) with a working period of 1,800 days from the date of signing the contract. The project contract will be signed within February 2023.
