PTG Energy Public Company Limited (SET: PTG) has announced its notification on investment in waste management business via the Stock Exchange of Thailand (SET).
The Board of Directors’ meeting resolved to approve the company to invest in Thai Paiboon Equipment Company Limited (TPB) by purchasing additional ordinary shares in a proportion of no less than 10 percent of total issued shares after the capital increase. The investment value did not exceed 103,000,000 Baht by March 2024. The source of funds was from the company’s working capital.
In this regard, the company is entitled to acquire additional ordinary shares of Thai Paiboon with the aim of holding no more than 33.33 percent of the total issued shares post-capital increase.
The total investment value throughout the project is estimated to be 400,000,000 Baht, which is subjected to Thai Paiboon’s performance. This investment will take place periodically, but not later than May 2024, and must be approved by the Board of Directors’ meeting.
Thai Paiboon engages in the production and distribution of Refuse Derived Fuel (RDF), along with participating in waste management, system design, and the manufacturing & installation of machinery used in the waste management process. The acquisition of shares in Thai Paiboon is aimed at continuity and expanding the waste management system business, specifically in the production of Refuse Derived Fuel (RDF) for electricity generation. This initiative aims to reduce environmental impact by minimizing resource usage. Additionally, it serves as a strategic expansion into other businesses to enhance value and support the company’s overall growth.
