Triton Holding Public Company Limited (TRITN) has announced that the resolution of Board of Directors Meeting No.7/2021, held on June 24, 2021 that the Board of Directors has approved the investment by purchasing newly issued ordinary shares in the capital increase of Fuel Pipeline Transportation Limited (FPT) with excess of right not more than 10,000,000 shares or not more than 75,000,000 baht or equivalent to not more than 1 percent of paid-up capital after the capital increase of FPT.
Investing in the purchase of such newly issued ordinary shares in the capital increase with an excess of right, the company foresees the good opportunity to receive a worthwhile return in terms of investment and future business relationship with FPT.
TRITN has delegated the power to Executive Chairman and/or Chief Executive Officer and/or Chief Financial Officer, to consider and proceed with any matters necessary for, relating to, and/or associated with the purchase of newly issued ordinary shares in the capital increase of FPT, including but not limited to the followings:
1) To negotiate, consider the details, enter into agreements, determine, and/or change any terms and conditions as deemed necessary, make payment of shares and/or execute documents and agreements and/or other documents related to the acquisition of newly issued ordinary shares in the capital increase as stated above (if any).
2) To perform any other necessary, relevant, and/or subsequent acts in connection with the acquisition of newly issued ordinary shares in the capital increase as stated above, as required by applicable laws and/or regulations.
On July 22, 2021, The company allocated 10,000,000 newly issued ordinary shares in excess of right and the company already made payment of such newly issued ordinary shares to FPT on July 30,2021 in the amount of 75,000,000 baht together with receiving a share certificate from FPT. Therefore, it can be considered that the company has completed the acquisition of FPT’s newly issued ordinary shares in accordance with the law.