Notify the disposal of entire investment in a subsidiary holding land in Kamala beach
กลับ
Bangkok Mass Transit System Public Company Limited ("BTSC"), a 96.44% direct
subsidiary of BTS Group Holdings Public Company Limited (the "Company"),
disposed of its entire investment in Kamala Beach Resort & Hotel Management Co.,
Ltd. ("Kamala Co."), a 100% direct subsidiary of BTSC. Consequently Kamala Co.
ceased to be a subsidiary of the Company.
Today (September 12, 2012), BTSC completed the disposal of the investment in all
shares of Kamala Co., a subsidiary which is the owner of approximately 455 rai
of land at Kamala beach, Krathu, Phuket, a non core property, to a Thai company
which is not a connected person. The disposal of investment in Kamala Co. was in
accordance with the terms and conditions of the shares sale and purchase
agreement dated June 12, 2012. The book value of the investment in Kamala Co. is
Baht 1,241.13 million and BTSC received Baht 1,643.04 million total
consideration from this disposal. After the disposal of investment in Kamala
Co., BTSC is not holding any shares of Kamala Co. and Kamala Co. ceased to be a
subsidiary of the Company.
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