My wish! Singha sells 51% of ‘Nirvana’ shares to Somwattana Group

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“Singha Estate” sells its shares in “Nirvana Daii”, completes its portfolio 51.56% to the “Somwattana” group at a total price of 1,793 million baht, while the new shareholders have to make a tender offer for all securities

News reports from the Securities and Exchange Commission (SEC) revealed that on January 6, 2021 Singha Estate Public Company Limited has sold shares. Nirvana Daii Public Company Limited 51.5613% of the total voting rights of the business Therefore, the number of securities after the disposal is equal to 0% of the total voting rights of the business.

Singha Estate Company Stating that the company has sold and transferred all 711,855,320 ordinary shares held in Nirvana Daii, representing 51.56% at a price of 2.52 baht per share, totaling 1,793.88 million baht to the Somwattana Group. Through trading outside the Stock Exchange of Thailand, Nirvana Daii ceases to be a subsidiary of the Company.

On 23 Nov 2020, Singha Estate informed the Stock Exchange that The Company will sell 711,855,320 ordinary shares in Nirvana Daii at the price of 2.52 baht per share to Somwattana Group. However, on December 18, 2020, Singha Estate has informed the SET again that The company did not receive the payment within the stipulated time. It is the case that the Somwattana Group breaks the conditions in the MOU.

sideNirvana Daii Company Further informed that After this transfer of Nirvana Daii shares, Mrs. Wattana Somwattana’s shareholding in Nirvana Dai increased to 40.57% from 9.59% and Mr. Sonsak Somwattana has an additional shareholding. To 26.33% from 5.74%

Mrs. Wattana And Mr. Sornsak Which is a group of people who have a relationship or act together For the acquisition of securities under the Securities Law Is obliged to make a tender offer for all remaining securities of the Company in the amount of 453,427,115 shares, representing 32.84% of the total issued and paid-up shares from all the Company’s shareholders at the price of 2.52 baht per share.

Sonsak Somwattana, Chief Executive Officer of Nirvana Daii, said that the company believes in and is extremely confident in the potential of Nirvana Daii and is ready to continue the success of the company to continue as Thailand’s leading residential project developer

Nirvana Daii results for the first nine months of 2020 gross income of 1,896 million baht and net profit of 24 million baht.Nirvana At 12.12 p.m., is 2.46 baht, the price does not change, the price Singha Estate Is 1.71 baht, an increase of 0.04 baht

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