Tapaco Public Company Limited (SET:TAPAC) agreed to acquire 23% stake in Premier Tank Corporation Company Limited from Growider Capital Company Limited for approximately THB 120 million on September 7, 2018. The consideration shall be paid in cash. As per the terms, Tapaco Public Company shall acquire 0.02 million shares in Premier Tank Corporation at the price of THB 5,200 per share. Presently, Growider Capital holds 35% stake in Premier Tank Corporation. Post-completion, Growider Capital shall hold 12% stake and Tapaco Public Company shall hold 23% stake in Premier Tank Corporation. The source of funds for the transaction shall come from the cash flow of Tapaco Public Company. For the year ended March 31, 2018, Premier Tank Corporation reported total assets of THB 738.41 million, shareholders' equity of THB 303.84 million and net income of THB 72.71 million. The board of directors of Tapaco Public Company at its meeting held on September 7, 2018, resolved to approve the transaction. The transaction is expected to be completed within October, 2018. The board of Tapaco Public Company expects the transaction to have direct benefit to the company and its shareholders.

Tapaco Public Company Limited (SET:TAPAC) cancelled the acquisition of 23% stake in Premier Tank Corporation Company Limited from Growider Capital Company Limited on September 7, 2019.