UV Disposes All 40% of GOLD’s Shares, FPT Advances to Tender at ฿8.50!!

UV Disposes All 40% of GOLD's Shares, FPT Advances to Tender at ฿8.50!!

Univentures Public Company Limited (UV)’s Board of Directors have approved the disposal of all ordinary shares of Golden Land Property Development Public Company Limited (GOLD), which are held by UV, amounting 912,829,675 shares or 39.28% of the total issued shares of GOLD, to Frasers Property (Thailand) Public Company Limited (FPT) by means of a voluntary tender offer for all of the securities of the business, at the offering price of THB8.50/ shares, totalling THB 7,759,052,237.50.

Moreover, UV will receive the consideration from FPT in the form of cash by the third business day following the expiration of the tender offer period which be will be on 14 August 2019.
Therefore, UV will be able to recognize the profits in the separate financial statements from the realized gain derived from the sale of GOLD shares before taxes and relevant expenses, totalling THB 2.463 million. Additionally, UV will receive cash from the sale in order to pay dividends and expand the investment in the existing business, including investment in other businesses which are relevant to or demonstrate synergy with those of UV, the details of which are set out in the proceeds utilisation plan. UV also has an opportunity in mitigation risk from dependency on income derived from real estate development for sale in GOLD.

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