Changes in Shareholding structure of Vencorex
Date: 2014-08-29 08:24:48
Source: SET
(Translation)
Ref. No. 01-0606/2014
August 29, 2014
Subject: Changes in Shareholding structure of Vencorex
To: President, The Stock Exchange of Thailand
PTT Global Chemical Public Company Limited ("PTTGC") is pleased to inform that
on August 28, 2014, PTTGC International (Netherlands) B.V. ("PTTGC
Netherlands"), a 100% owned subsidiary of PTTGC via PTT Chemical International
Private Limited (a 100% owned subsidiary of PTTGC), has purchased 34% of the
registered capital in Vencorex Holding ("Vencorex") from Perstorp Holding AB
and will make PTTGC Group's shareholding in Vencorex change from 51% to 85%. As
at the date of acquisition, PTTGC Netherlands paid for an initial payment of
the shares as agreed and will pay the outstanding in the future, where the total
value of the shares will be in accordance with the operating performance of
Vencorex for fiscal year 2014 and 2015.
Thus, the increase in PTTGC Group's shareholding in Vencorex will enhance
PTTGC's abilities to fulfill its strategic move into downstream business that
will help enhance higher value, creating opportunities, quicker and more
efficient growth prospects. It could be summarized as follows:
1. Able to manage and set strategic direction of Vencorex, in order to make
Vencorex as a platform for Polyurethane (PU) business based on PTTGC's Strategy
according to plan
2. Support Vencorex in France as a center for research and development of
Isocyanate.
3. Increase opportunities of expanding production for Toluene diisocyanate
(TDI), Hexamethylene diisocyanate (HDI) and HDI Derivatives in Asia, in order to
accommodate the needs of a growing market in the future.
Currently, Vencorex is an owner of technology and a major manufacturer of
isocyanates in Europe, particularly in TDI, HDI and HDI Derivatives which are
major feedstocks in the manufacturing of PU with its main characteristics for
the usage of foams and coatings in automobile and construction industry.
The transaction is not a connected transaction and the transaction size does not
require disclosure under the rule, procedures and disclosure of information
concerning the acquisition and disposition of assets of listed companies, but
this report is in accordance with the disclosure for acquiring or disposing of
an investment in another company which results in that other company becoming,
or ceasing to be a subsidiary of the listed company or its subsidiary and the
disclosure for joining in, or leaving, a joint venture with another company
with an investment of 10% or more of the paid-up capital of the joint venture
company.
Please be informed accordingly.
Sincerely yours,
(Kun Patumraj)
Chief Operating Officer - Upstream Petrochemical Business
Acting President & Chief Executive Officer
PTTGC ลงเพราะข่าวนี้หรือเปล่าครับ
Date: 2014-08-29 08:24:48
Source: SET
(Translation)
Ref. No. 01-0606/2014
August 29, 2014
Subject: Changes in Shareholding structure of Vencorex
To: President, The Stock Exchange of Thailand
PTT Global Chemical Public Company Limited ("PTTGC") is pleased to inform that
on August 28, 2014, PTTGC International (Netherlands) B.V. ("PTTGC
Netherlands"), a 100% owned subsidiary of PTTGC via PTT Chemical International
Private Limited (a 100% owned subsidiary of PTTGC), has purchased 34% of the
registered capital in Vencorex Holding ("Vencorex") from Perstorp Holding AB
and will make PTTGC Group's shareholding in Vencorex change from 51% to 85%. As
at the date of acquisition, PTTGC Netherlands paid for an initial payment of
the shares as agreed and will pay the outstanding in the future, where the total
value of the shares will be in accordance with the operating performance of
Vencorex for fiscal year 2014 and 2015.
Thus, the increase in PTTGC Group's shareholding in Vencorex will enhance
PTTGC's abilities to fulfill its strategic move into downstream business that
will help enhance higher value, creating opportunities, quicker and more
efficient growth prospects. It could be summarized as follows:
1. Able to manage and set strategic direction of Vencorex, in order to make
Vencorex as a platform for Polyurethane (PU) business based on PTTGC's Strategy
according to plan
2. Support Vencorex in France as a center for research and development of
Isocyanate.
3. Increase opportunities of expanding production for Toluene diisocyanate
(TDI), Hexamethylene diisocyanate (HDI) and HDI Derivatives in Asia, in order to
accommodate the needs of a growing market in the future.
Currently, Vencorex is an owner of technology and a major manufacturer of
isocyanates in Europe, particularly in TDI, HDI and HDI Derivatives which are
major feedstocks in the manufacturing of PU with its main characteristics for
the usage of foams and coatings in automobile and construction industry.
The transaction is not a connected transaction and the transaction size does not
require disclosure under the rule, procedures and disclosure of information
concerning the acquisition and disposition of assets of listed companies, but
this report is in accordance with the disclosure for acquiring or disposing of
an investment in another company which results in that other company becoming,
or ceasing to be a subsidiary of the listed company or its subsidiary and the
disclosure for joining in, or leaving, a joint venture with another company
with an investment of 10% or more of the paid-up capital of the joint venture
company.
Please be informed accordingly.
Sincerely yours,
(Kun Patumraj)
Chief Operating Officer - Upstream Petrochemical Business
Acting President & Chief Executive Officer