3rd Asian Excellence Recognition Awards 2013
Announcement Of Sermsuk PLC Regarding Disposal Of Assets Transaction And Connected Transaction
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Oct 29, 2014
| Announcement Title | General Announcement |
| Announcement Subtitle | Announcement of Sermsuk PLC regarding Disposal of Assets Transaction and Connected Transaction |
| Securities | THAI BEVERAGE PUBLIC CO LTD (THBEV) |
| Date & Time of Broadcast | Oct 29, 2014 1:43 |
| Submitted By | Vaewmanee Soponpinij Company Secretary |
| Effective Date and Time | Oct 29, 2014 12:39 |
| Description | 29 October 2014 We, Thai Beverage Public Company Limited (THBEV), would like to announce that the Board of Directors of Sermsuk Public Company Limited (SSC), an indirect subsidiary of THBEV listed on the Stock Exchange of Thailand (SET), organized a meeting on 27 October 2014 to consider and endorse, among other matters, that SSC enter into a Disposal of Assets Transaction and Connected Transaction with International Beverage Holdings Limited (IBHL), our direct wholly-owned subsidiary. The Disposal of Assets Transaction and Connected Transaction relate to the conditional sale of "est" brand and trademark by SSC (or its subsidiary) to IBHL (the Proposed Transaction). SSC's announcement relating to the meeting of its Board of Directors and containing information about the Disposal of Assets Transaction and Connection Transaction is available on the SET website (http://www.set.or.th) on 28 October 2014. The Executive Committee Meeting of THBEV has endorsed the Proposed Transaction and approved the appointment of an independent financial adviser to advise THBEV on the Proposed Transaction. The Executive Committee will be referring the Proposed Transaction to the Board of Directors Meeting of THBEV for its consideration and (if the Directors deem fit) its approval in November 2014. We will update shareholders on any material developments in relation to the Proposed Transaction, in accordance with our obligations under the SGX-ST Listing Rules. We wish to caution shareholders and investors that there is no certainty that the Proposed Transaction will occur, as it is subject to, inter alia, agreement on the terms of the Proposed Transaction, and the approval of the THBEV Board of Directors Meeting and the approval of relevant shareholders of SSC at the SSC Shareholders Meeting to be convened. Please note that SSC is an indirect subsidiary of THBEV. Thai Beverage Logistics Co., Ltd., a direct wholly-owned subsidiary of THBEV, holds 64.66% of the total SSC issued and sold shares. By Order of the Executive Committee Vaewmanee Soponpinij Company Secretary |
