Banpu Power Public Company Limited (BPP) announced that Banpu Next Company Limited (Banpu NEXT), that BPP and Banpu Public Company Limited (BANPU) equally hold 50 percent, in which Banpu NEXT, is considered as an associated company of BPP while being subsidiary of BANPU, to invest in newly issued shares equivalent to 30 percent ownership in Beyond Green Company Limited (BYG) for the total amount of THB 300 million.
The major shareholder of BYG is Mr. Chanin Vongkusolkit and his family. In which, Mr. Chanin Vongkusolkit, is the Chairman of the Board of Directors of BANPU and the member of the Board of Directors of BPP. Therefore, the investment in BYG is a connected transaction under BANPU but not a connected transaction of BPP since Banpu NEXT is considered as an associated company of BPP. The transaction is expected to complete in September 2021.
Beyond Green is the authorized Club Car (Commercial utility electric vehicles), provide wide range of services including sell, concession, rental fleet and distribution of Club Car in Thailand, Laos, and Cambodia. It offers varying models to suit all needs, servicing the golf, resorts & hotels, hospitals, industrial and commercial industries. The transaction is expected to complete by September 2021.
This investment is another significant step in accelerating the growth of the Energy Technology business under Greener & Smarter strategy to expand E-mobility services to serve the need of variety group of customers in the market with potential growth. The cooperation will also help strengthen both of BPP’s business through various activities in the future including research & development, initiatives, and products innovation to improve the products and services quality as well as building the platform to offer services that make life betterment for everyone, support the demand for clean energy vehicles, which is in line with the company’s commitment to achieve sustainable growth.
BPP certifies that this investment is not a connected transaction and does not trigger the reporting requirement for the acquisition of assets of listed companies under the Notification of Capital Market Supervisory Board.