Mr. Adisak Sukumvitaya, Chief Executive Officer of JMART, stated through Kaohoon’s Program on September 11, 2020, that the company saw an opportunity amid the pandemic outbreak, which resulted in the decision for a capital increase.
The CEO asserted that the company’s performance will continue to make an all-time high, as well as JMT and SINGER that will also report significant growth this year.
Amid the coronavirus outbreak that crumbled numbers of companies around the world, JMART expected to invest in a proper company when the opportunity arose, thus, the company required a number of funds for future investment.
The Board of Directors of Jay Mart Public Company Limited (JMART) on September 10, 2020, approved the resolution to increase registered capital of the company from the registered capital Baht 1,108,077,312 to Baht 1,470,720,796 by issuing 362,643,484 new shares at the par value of Baht 1.00 in order to offer to the existing shareholders in proportion to their shareholding and private placement under General Mandate.
The approval from shareholders in the Extraordinary General Meeting of Shareholders on November 2, 2020 for a capital increase under General Mandate will increase the flexibility in fundraising and enable the Company to invest or expand its business in the future timely. The Board of Directors will consider and approve the objectives of the capital increase and use of funds as well as details regarding the issuance and offering of newly issued ordinary shares. Also, the Company will disclose information in accordance with the SET criteria.
The capital increase under the General Mandate will increase the flexibility in fundraising and enable the Company to invest or expand its business in the future. Further, it will result in a stronger and more stable financial structure which will benefit the Company and general return to shareholders in the long term.