PTT Oil and Retail Business Public Company Limited (OR) would like to inform that OR’s Management Committee (ORMC), at meeting No. 34/ 2564 on September 20, 2021, resolved to approve Modulus Venture Company Limited (Modulus), a wholly-owned subsidiary of OR, to invest by purchasing newly issued common shares of Imsub Global Cuisine Company Limited (ISGC), with a total investment amount not exceeding THB 192 million. After such investment, Modulus will hold 25% and the ISGC’s former shareholders will hold 75% of all common shares issued by ISCG.
ISGC owns and operates KOUEN, a Japanese restaurant, along with other brands. The investment objective is to strengthen OR’s food and beverage business by increasing product diversification and creating opportunities for domestic and international growth. In this regard, Modulus is going to sign a subscription contract and shareholder agreement on October 28, 2021.