Financial News

Samartís Confidence in the Capital Increase for Its New Digital Business

Samart Corporation states that it is ready for a capital increase for Samart Digital Limited (Public Company). The increase will be based on the share. Samart Digital can leverage the capital to maximize efficiency and build sustainability in the new business.

Mr. Watchai Vilailuck, President of Samart Corporation, says that the company foresees Samart Digitalís opportunity and tendency to expand the business, focusing on building consistent income and sustainable growth. Samart Digital has reorganized and substantially expanded its business. The company expects to realize the revenue from its new business from Q2 onwards. As a major shareholder of Samart Digital (SDC), the company agrees to subscribe for SDCís newly issued ordinary shares based on its share. It is believed that the capital increase this time could increase Samart Digitalís potential in competing and driving its business and bring the company towards success.

During Samart Digitalís 2018 annual shareholder meeting, it was agreed that up to 8,800,500,000 newly issued ordinary shares, of which the value is 0.10 baht per unit, were to be issued and offered to existing shareholders based on the right offering ratio of 2 newly issued shares per existing share at 0.30 baht per unit. Up to 2,200,125,000 newly issued ordinary shares will be provided at 0.10 baht per unit to correspond with the warrant to purchase the 1st generation of the companyís ordinary share (SDC-W1). They will be allocated among existing shareholders at the ratio of 4 newly issued shares per 1 unit of SDC-W1 for free. The warrant is valid for 5 years at 0.50 baht per unit. The subscription and payment period is between 22-25 and 28 May 2018.