“Silom Road-Viroj” Makes Tender Offer to “NINE” at ฿1.40, Starting December 13

Silom Road Limited and Mr. Viroj Tangjetanaporn, who already owned 53.48% of NINE’s total issued and paid-up shares, have made a tender offer to acquire all NINE’s shares at ฿1.40/share.

Nation International Education Public Company Limited (NINE) has reported that the company receives a copy of tender offer for the securities of NINE from Silom Road Limited and Mr. Viroj Tangjetanaporn, as the offerors, on December 12, 2018.

Regarding the extraordinary general shareholders’ meeting on October 30, 2018, the company approved to allocate newly issued shares under the specific objective basis in the number of 220,500,000 shares at a par value of ฿1.00/share at the price of ฿1.40/share, totaling ฿308,700,000 to:

  1. Silom Road Limited (SRL) acquired 175,950,000 shares, totaling ฿246,330,000, equivalent to 48.13% of the registered and paid-up capital.
  2. Mr. Viroj Tangjetanaporn acquired 19,550,000 shares, totaling ฿24,370,000, equivalent to 5.35% of the registered and paid-up capital.

 

SRL and Mr. Viroj are the parties acting in concert to jointly acquire securities. As a result, both parties hold 195,500,000 ordinary shares of NINE, representing 53.48% of total issued and paid-up shares.

In this tender offer, SRL will acquire additional ordinary shares of NINE in the amount not exceeding 3,169,150 shares, representing 0.87% of the total issued and paid-up shares, while Mr. Viroj will acquire the remaining tendered shares, which are the remainder after SRL has reached its purchase limit.

 

The tender offer price is ฿1.40/share, starting from December 13, 2018 to January 18, 2019. This tender offer is not due to the purpose of delisting NINE from the market.

At 15:50 on December 12, 2018, NINE’s shares jump ฿0.08 or 3.64% to ฿2.28/share with ฿9.27 million in value.