The Stock Exchange of Thailand (SET) urges investors to carefully study and follow NUSA’s information as the purchase of additional EH shares is considered a backdoor listing that must be conducted in accordance with the relevant regulations. Approved the purchase of additional shares of Wind Energy Holding Co., Ltd. (WEH) by informing that the transaction size was 99.90% despite having been informed of the SEC’s opinion, including the size of the transaction. also occur in 2022. If counting the transactions in 2022, the transaction size will exceed 100%, which is considered an indirect listing (Backdoor Listing), which NUSA must comply with relevant requirements. Including having to submit a request
SET Considering that the company still meets the criteria for relisting, the SET therefore urges investors to carefully study and follow NUSA’s information. On July 16, 2023, approved the purchase of shares of Wind Energy Holding Company Limited (WEH) totaling 11,748 million baht by issuing NUSA shares to Thana Power One Company Limited (TONE) not exceeding 49.98%. reward which has a transaction size of 99.90%
On July 17, 2023, the SEC asked NUSA to clarify and adjust the calculation of the transaction size that is not in accordance with the opinion of the SEC so that it is complete and correct, including the transaction size. that NUSA also invested in WEH shares in 2022. Later, on July 18, 2023, NUSA further clarified that it would accelerate coordination with the Independent Financial Advisor (IFA) to provide various information. Related completely in all aspects for the shareholders of the Company receive complete information prior to the date of the meeting as required by the public company as soon as possible
Since such transactions are significant to the Company’s business operations and investments. If including the purchase of WEH shares in 2022, which has a transaction size of 49%, the transaction value will exceed 100%, which is considered a backdoor listing transaction, in which NUSA is obligated to perform the following actions:
(1) request approval of the transaction to the SET by submitting an application to consider accepting new securities (Relisting) without delay If the qualifications are not complete according to the specified criteria Market may consider delisting the company’s securities
(2) Seek approval from the shareholders’ meeting to enter into such transactions without delay. If there is an arrangement Meeting of shareholders before knowing the result of the request for listing from the SET according to item (1), the company must clearly state in the notice of the meeting that it is pending the result of consideration.
Currently, it is awaiting NUSA’s clarification and the Company must proceed in accordance with the relevant requirements. SET Investors are requested to carefully study and follow NUSA’s information.
Source: Thai News Agency