Major Cineplex Group Public Company Limited or MAJOR revealed that with the meeting of the Board of Directors of the Company No. 1/23 held on February 23, 2023, it approved the entry into the memorandum. stock trading for the sale of all ordinary shares held by the Company M Pictures Entertainment Public Company Limited or MPIC in the amount of 1,202.13 million shares with a par value of 0.50 baht per share, representing 92.46 percent of the total issued shares of MPIC toMr. Chinawat Assavapokee (Purchaser) who is not a connected person of the Company at a total price of 650 million baht or 0.54 baht per share
Approximately, the parties expect to sign the share purchase agreement within May 31, 2023 and entering into the transaction depends on the completion of various conditions precedent. As will be specified in the share purchase agreement. including but not limited to The results of MPIC’s due diligence must be satisfactory to the buyer. obtaining approvals and consents from regulatory agencies and any other government agencies, etc. The purchaser is obligated to continue making a general tender offer from minority shareholders of MPIC in accordance with the relevant laws.
In addition, the transfer of the ordinary shares held by the Company in MPIC as mentioned above Does not fall under the criteria for disposition of assets of listed companies According to the Notification of the Capital Market Supervisory Board No. Tor Jor. and the Notification of the Stock Exchange of Thailand Re: Disclosure of Information and Actions of Listed Companies in Acquisition or Disposal of Assets B.E. such
This is due to previous misconceptions about the acquisition. MPIC ofMr. Chinawat Assavapokee, who is currently a director of Stark Corporation Public Company Limited or STARK that the acquisition is related to TIGHT Even though it is a purchase on behalf of a person who is not related to the company in any way.
