AJ Advance Technology Public : Notification of Conversion Price Calculation and The registration of change of paid-up capital
July 27, 2022 at 07:05 am EDT
Share
AJA.025/2022
July 27th, 2022
Subject : Notification of Conversion Price Calculation and The registration of change of paid-up capital
To : President
The Stock Exchange of Thailand
AJ Advance Technology Company Limited ( the " Company") would like to inform that the Company has operated to offered and issue the newly convertible debentures pursuant to The Convertible Debentures Agreement for " AJ Advance Technology Company Limited 's long-term convertible debenture No.1/2022 due 2025", to Advance Opportunities Fund ("AO Fund") and Advance Opportunities Fund 1 (AO Fund 1). Later,The convertible debenture holders, namely AO Fund1, notified the conversion of convertible debenture on 25 July,2 0 2 2 . Total amount of THB 5 million to 21,367,521 ordinary shares as follows: as follows:
The Company's
Amount of
Remaining
Exercise the right to
Remaining debentures after
long-term
debentures
debentures
conversion (unit)
conversion (unit)
convertible
(units)
before
25 July, 2022
conversion
debentures
AO Fund
AO Fund 1
Total
AO Fund
AO Fund1
Total
(unit)
No. 1/2022
30,000
15,000
-
5,000
5,000
-
10,000
10,000
No. 2/2022
5,000
-
-
-
-
-
-
-
Total
35,000
15,000
-
5,000
5,000
-
10,000
10,000
Note: Debenture 1,000 baht per unit.
July 25th, 2022
AO Fund 1 exercised their conversion rights of THB 5 million to 21,367,521 ordinary shares at the conversion price of 0.234 baht per share, Details of conversion price calculation using data from www.set.or.th as follows:
number of days
Date
Volume (Shares)
Value (Baht'000)
1
14/7/2022
4,060,758
1,138.08
2
15/7/2022
14,392,754
3,859.11
3
18/7/2022
6,718,387
1,816.68
4
19/7/2022
7,148,962
1,926.60
5
20/7/2022
4,239,189
1,148.18
6
21/7/2022
35,923,106
9,190.37
7
22/7/2022
31,313,331
7,832.40
Total
103,796,487
26,911.42
The weighted average price of 7 consecutive business days = 0.26 baht per share, 90 percent of the weighted average price of 7 consecutive business days = 0.234 baht per share.
With the conversion price is not less than 90 percent of market price "The market price" shall be calculated based on the weighted average price Company's shares trading on the Stock Exchange of Thailand for not less than 7 consecutive business days but not exceeding 15 consecutive business days prior to the date that the Debenture holder exercises their conversion right. Therefore, it does not meet the criteria to prohibit of selling shares within 1 year from the date of receiving the convertible securities (Silent Period). In this regard, the weighted average price is calculation from the closing weighted average price traded in each consecutive business day (Floating Exercise Price). Whereby the market price will be calculated with two digit decimals. And for the conversion price of Convertible Debentures, it will be calculated with three digit decimals.
The Company hereby informs that the Company has completely registered the change in its paid- up capital from Baht 524,676,584. 30 to Baht 526,813,336. 40 with registrar of Department of Business Development, Ministry of Commerce on July 27th, 2022. As a result, the Company has the paid-up capital of Baht 526,813,336.40 divided in to 5,268,133,364 ordinary shares at a par value of Baht 0.10 each.
Please be informed accordingly,
Yours sincerely,
(Mrs. Prangthip Chanvisitsak) Company Secretary
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AJ Advance Technology pcl published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 11:03:10 UTC.
AJ Advance Technology Public Company Limited is a Thailand-based company that is engaged in procuring and distributing of electrical appliance products under the brand, AJ. The Company has three products categories: audio and visual products, home appliances, and AJ EV bike. Its audio and visual products include speakers, portable radios, Bluetooth speakers and music boxes. The Company's home appliance products include large home appliances, such as portable air conditioners, refrigerators and washing machines, and small home appliances, such as thermos bottles, electric pots, steam iron blenders, induction cookers, microwave ovens, water purifier, oil-free fryer, floor fan, gas stove and solar LED. It is engaged in the electric motorcycle (EV Bike) distribution business, which includes AJ EV bike, mini-EV bike and electric tricycle. Its AJ EV bike products include C-LIKE, MINE PLUS, RAYMAN and Q6. Its mini-EV bike products include FUN 53 Electric bicycle and X5 Electric bicycle.