Loxley Public Company Limited (LOXLEY) had announced that the company approved the disposal of whole investment in Muang Thai Insurance Public Company Limited (MTI) to a connected person and non-connected persons by entering into Big Lot transactions amounting 3,197,937 shares or equivalent to 5.42% of the share amount according to paid-up capital of MTI at Baht 88 per share, total of 281.42 million baht.
The transaction rationale is to use proceeds for LOXLEY’s working capital and reservation for supporting economic fluctuations.
Regarding to the buyer, LOXLEY sold MTI shares to Mrs. Nualphan Lamsam, a connected person, amounting 1,662,937 shares or 2.82% of the share amount according to paid-up capital of MTI at Baht 88 per share, totaling 146.34 million baht.
The disposal of MTI shares to non-connected persons amounting 1,535,000 shares were divided to Mr. Puttipong Prasarttong-Osoth at the amount of 850,000 shares or 1.44% and to Mrs. Chailada Tantivejakul at the amount of 685,000 shares or 1.16%.
Moreover, LOXLEY had announced that ASM Security Management Company Limited (ASM), a subsidiary of LOXLEY which provides security services, had established a new associate called AOT Aviation Security Company Limited to provide security services with a registered capital of 350 million baht.
As for the shareholding structure, AOT will hold 49%, ASM will hold 41.18%, Palang Ruam Security Guard Co., Ltd. will hold 7.22% and Security M A I International Co., Ltd. will hold 2.60%.
LOXLEY asserted that ASM used working capital and bank loans as a source of funds and the investment was 144.13 million baht.