Interlink Telecom Public Company Limited (SET: ITEL) announced an acquisition in Global Lithotripsy Services Company Limited via the Stock Exchange of Thailand (SET).
ITEL acquired all of the ordinary shares in Global Lithotripsy Services Company Limited (GLS) with the details as follows:
The date of transaction for the ordinary shares of Global Lithotripsy Services Company Limited was on 2 January 2024, with the type of business of distribution and rendering of service for medical equipment. The registered capital was THB 2 million, divided into 20,000 ordinary shares with a par value of THB 100 per share.
The company acquired all of the ordinary shares in Global Lithotripsy Services Company Limited from the existing shareholders (not a connected person) at the total amount of THB 39,777,925.65 or approximately THB 1,989 per share.
Source of Fund: Working Capital
Shareholder and portion (before transaction):
- Sodexo (Thailand) Company Limited 99.99%
- Mr. Gilles Vestur <0.01%
- Mr. Johnpaul Dimech <0.01%
Shareholder and portion (after transaction):
- Interlink Telecom Public Company Limited 99.99%
- Mr. Nuttanai Anuntarumporn <0.01%
The company benefits are as follows:
(1) Expand investment to related businesses and help create growth and stable income for the group of companies.
(2) Create opportunities to expand the business of developing health technology in Thailand (Health Technology) in order to raise the level of medical and health technology to be more efficient.
(3) Diversify risk in the business operations of the group of companies because after entering into this transaction, the group of companies will increase in income from the service division and has the potential to make higher profits including having better cash flow and liquidity.
The transaction is not a connected transaction, and the transaction size does not require disclosure under the regulations on the acquisition and disposition of assets of listed companies. However, this is a report of a listed company acquiring an investment in another company, which results in that other company to be a subsidiary company of the listed company. In order to provide the investors with a more thorough operation of the company, the company disclosed the above matter through the Stock Exchange of Thailand.
