TEAM Consulting Engineering and Management Public Company Limited (SET: TEAMG) announced that the board of directors have approved to purchase 6% of shareholding in NETBAY through the latter’s major shareholder.
TEAMG announced that the Board meeting No. 9/2023, held on December 21, 2023 was resolved to approve the investment in ordinary shares of Netbay Public Company Limited ( SET: NETBAY ), which engages the main business related to the invention, creation and development of various Digital Business Technology Platforms for Digital Business Service transactions and provides comprehensive Software as a Service ( SaaS) for Business-to-Government ( B2G) , Business-to-Business ( B2B) and Business-to-Consumer ( B2C) groups, to expand services and develop the company’s service potential in the field of information technology.
TEAMG stated that the company foresees that NETBAY’s business is related to the company’s data management system business. This will be able to create additional value (Synergy) for the business of the company.
TEAMG will purchase ordinary shares of NETBAY from Mr. Phichit Wiwatrujirapong, who is not a connected person of the company, in an amount of 12,000,000 shares with a par value of 1 baht per share, or equivalent to 6.00 percent of NETBAY’s paid-up registered capital, at a price not exceeding 17.00 baht per share. Totaling a total value of not more than 204,000,000 baht in cash. The said transaction will take place within January 15, 2024, unless there is a written agreement to extend the period.
On December 19, 2023, Ditto (Thailand) Public Company Limited (SET: DITTO) also announced that its Board of Directors approved the company to invest in ordinary shares of NETBAY in the amount of 49,800,000 shares, or equivalent to 24.90 percent of the paid-up registered capital, at the price not exceeding THB 17.00 per share, and the total value not exceeding THB 846,600,000 by purchasing the ordinary shares of NETBAY from Mr. Pichit Viwatrujirapong, who is not a connected person of the company.
Noted that TEAMG and DITTO have Mr. Teerachai Rattanakamolporn as a major shareholder, and both companies are also a part of the Rattanakamolporn Family’s business.
