SKY to See Further Growth as AOT Nods on Capital Increase to AOTGA for Ground Operations

SKY to See Further Growth as AOT Approves a Capital Increase to AOTGA for Ground Operations.

Sky ICT Public Company Limited (SKY) is expecting to see further growth in its earlier investment in Sal Group (Thailand) Company Limited (SAL) after the Airports of Thailand Public Company Limited (AOT) announced an increase of registered capital of AOT Ground Aviation Services Company Limited (AOTGA) by 644 million baht through the right offering.

AOT also informed that since AOTGA has been granted permission to provide ground equipment services at Phuket International Airport for 11 years and 10 months, from 1 December 2020 to 29 September 2032, AOTGA then necessarily requires an investment in equipment as well as other relevant actions in preparation for its operations.

Therefore, the AOTGA Extraordinary General Meeting of Shareholders held on 17 August 2020 resolved to approve the increase of registered capital of AOTGA by 644 million Baht, from 400 million Baht to 1,044 million Baht in total, by issuing 6,440,000 new shares, comprising 6,182,400 ordinary shares and 257,600 preferred shares, with a par value of 100 Baht each, to offer to the existing shareholders in proportion to their respective shareholdings (Right Offering), which shall be paid in cash.

 

AOT had entered into a partnership with SAL to establish AOT Ground Aviation Services Company Limited (AOTGA) with an aim to provide ground equipment services at airports under AOT’s supervision and completed the company registration with the Ministry of Commerce on 10 October 2018, with registered capital of 400 million Baht, in which AOT holds a 49% stake and SAL holds a 51% stake. Currently, AOTGA operates its services at Don Mueang International Airport.

 

SKY on 14 July 2020 announced an investment in SAL in the proportion of 46.80% of the total registered and paid-up capital of SAL, with the total transaction value of 212,116,248 THB.

SAL is a holding company that holds 51% of the total shares of AOT Ground Aviation Services Co., Ltd. (AOTGA), which is a joint venture between SAL and Airports of Thailand Public Company Limited (AOT), engages in the business of providing aircraft and passenger services at airports that are under the responsibility of AOT.

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