Thaivivat Insurance Public : Notifying of the Registered Capital Increase in Subsidiary Company
July 19, 2022 at 08:14 am EDT
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TVI 014/2022
July 19, 2022
Subject :
Notifying of the Registered Capital Increase in Subsidiary Company
Attention :
The President
The Stock Exchange of Thailand
Thaivivat Insurance Public Company Limited ("the Company") hereby informs that the Board of Directors Meeting No. 5/2022 has approved the capital increase in the subsidiary and the Extraordinary General Meeting of Shareholders No.1/2022 held on July 4 ,2022 of Motor AI Recognition Solution Company Limited ("MARS") which is the Subsidiaries that the Company holds 75% of the registered capital has resolved a special resolution to increase the registered capital from the existing register capital of Baht 20,000,000 (200,000 Shares at the par value of Baht 100 per share) to be Baht 25,000,000 (250,000 Shares at the par value of Baht 100 per share) by issuing 50,000 ordinary shares at par value of Baht 100 per share offer to the existing shareholders in proportion. The details as follows:
1) The Amount of Newly Issued Ordinary Shares
Shareholders as of July
The number of
Shareholders as of July
The number of
4, 2022
shares and
18, 2022
shares and
proportion
proportion
1.
Thaivivat Insurance PCL.
150,000
1.
Thaivivat Insurance PCL.
187,500
75%
75%
2.
Plus IT Solution Co.,Ltd.
25,000
2.
Plus IT Solution Co.,Ltd.
31,250
12.5%
12.5%
3.
OZT Robotics Co.,Ltd.
25,000
3.
OZT Robotics Co.,Ltd.
31,250
12.5%
12.5%
Total
200,000
Total
250,000
100%
100%
2) Capital Increase Objective
: To invest in company's business and increase business liquidity
3) Source of Investment Fund
: To use the capital flows in the company
The above transaction is the asset acquisition with a transaction size equal to 0.06% of total assets according to the consolidated financial statements ending on March 31, 2022. There is no transaction on the asset acquisition that occurred during 6 months prior to the date of entering this transaction. Therefore, the above disclosure does not qualify for compliance with the regulations of the Stock Exchange of Thailand for the assets acquisition or disposition and not a connected transaction.
The Company will be reporting this transaction to the Office of Insurance Commission (OIC) in accordance with the announcement of other businesses investment.
Please be informed accordingly.
Sincerely yours,
Mr. Jiraphant Asvatanakul
President and CEO
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Thaivivat Insurance pcl published this content on 19 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2022 12:13:04 UTC.
Thaivivat Holdings Public Company Limited is a Thailand-based company, which is engaged in investment in other companies. The Company operates through three segments: Non-life insurance business, Investment business and Service business. The Company is engaged in the core business of holding shares in other companies with the core business being the insurance business consisting of the non-life insurance business in Thailand, the insurance business in overseas and the insurance supported business. Its insurance business includes motor insurance, fire insurance, marine and transportation insurance, and miscellaneous insurance. The Company's motor insurance comprises compulsory insurance and voluntary insurance. Its fire insurance covers damage due to fire, lightning, or consumer-use gas explosions. Its miscellaneous insurance includes a variety of disaster insurance types, such as personal accident insurance, travel accident insurance, critical illness insurance and health insurance.