Loxley Public Company Limited (LOXLEY) announced that LOXLEY GTECH Technology Co., Ltd. (LOXLEY GTECH), an associate company of the company(of which 35% of its shares are directly and indirectly held by the company), pursuant to the referenced letter of which the Supreme Administrative Court rendered a judgment ordering Government Lottery Office (GLO) pay Baht 1,654,604,627.54 to LOXLEY GTECH within 60 days, together with interest at the rate of 7.5% per year from the date of the lawsuit filing until 10 April 2021 and subsequently at the interest rate of 3% plus an additional 2% charge until payment is made in full; THAT
Later, GLO and LOXLEY GTECH had negotiated for payment of debts. On 22 July 2021, the GLO Board passed a resolution to pay debts with respect to the Contracting Agreement for Services of Lottery Games System to LOXLEY GTECH as follows:
1.Baht 1,654,604,627.54 shall be paid within August 2021.
2.Interest in the sum of Baht 444,745,338.27 shall be paid within the 2022 fiscal year in four installments of equal amount; the first –within 1 October 2021, the second -within 4 January 2022, the third -within 1 April 2022, and the fourth -within 1 July 2022.
Today (July 27), both parties entered into a memorandum of agreement and duly submitted the same to Bureau of Decisions Execution, Office of the Administrative Court.