News Network Corporation Public Company Limited (NEWS) has announced through the Stock Exchange of Thailand that the company has come to a resolution of disposing ordinary shares that SPC held in Spring News Television Co., Ltd. (SPTV) in the amount of 90.1% of the total issued and sold shares of SPTV to TV Direct Public Company Limited (TVD). According to the Extraordinary General Meeting No. 1/2018 on November 22, 2018, a total of 34,685,139,479 votes or 99.99% have approved in disposing of SPTV’s shares.
The shareholders also approved the registered capital reduction of NEWS by ฿149,530,870,699, from the existing registered capital of ฿281,961,297,580 to the newly registered capital of ฿132,430,426,881, by deducting 149,530,870,699 unissued ordinary shares, with the par value of ฿1.00/share.
Moreover, the votes also approved the registered capital increase of NEWS for ฿67,887,511,111, from the existing registered capital of ฿132,430,426,881 to the newly registered capital of ฿200,317,937,992, by issuing 67,887,511,111 newly issued ordinary shares, with the par value of ฿1.00/share.
The allocation of newly issued ordinary shares of NEWS to be offered for sale to the existing shareholders proportionate to their respective shareholding (Rights Offering) and in case that there are unsubscribed shares from the offering to existing shareholders, then the unsubscribed shares shall be offered for sale to the specific investors (Private Placement).