-Translation-
Ref. Ngor Nor Por. 038/2024
20 December 2024
Subject: | Notification of a renewal contract regarding connected transaction on providing and/or receiving |
financial assistance | |
To: | President, |
The Stock Exchange of Thailand |
Reference: IRPC's SET Notification Letter No. Ngor Nor Por. 065/2016, Dated 20 December 2016, regarding connected transaction on providing and/or receiving financial assistance
The Board of Directors Meeting of IRPC Public Company Limited ("IRPC") No.12/2016 held on 20 December 2016 passed the resolution to grant an approval to enter into Inter-Company Borrowing and Lending ("ICBL") contract between IRPC and PTT Public Company Limited ("PTT") according to the company's SET notification as aforementioned in order to optimally manage IRPC's short-term liquidity.
To maintain optimal short-term liquidity management, IRPC and PTT renewed the ICBL contract on 20 December 2024 (the latest ICBL contract expired on 19 December 2024). Note that the renewal of the contract was performed under the management's authority delegated from the Board of Directors according to the aforementioned resolution of the Board of Directors Meeting. This renewal contract is deemed a connected transaction relating to providing and/or obtaining financial assistance as PTT is the company's major shareholder. The Company hereby discloses the details of the transaction as follows:
Transaction Date | 20 December 2024 | |
Related Parties and | PTT, a major shareholder of the Company | |
Relationship | ||
Connected Transaction | Obtaining Financial Assistance | Providing Financial Assistance |
Type | ||
Short-term borrowing | Short-term lending | |
Facility Type | Uncommitted Unsecured Short-Term Loan | |
Currency | THB or USD, upon the mutual agreement between both parties | |
Contract Period | Less than 1 Year (20 December 2024 to 19 December 2025) | |
1/2 |
The Total Connected | Obtaining Financial Assistance | Providing Financial Assistance | ||||||
Transaction Value and | Calculated from annual interest | Calculated from principle and annual | ||||||
Basis for Calculation of | expense | interest income | ||||||
the Connected | Total amount not exceeding | Total amount not exceeding | ||||||
Transaction Value | Baht 10,000 million | Baht 200 million | ||||||
The total connected transaction is less than 3% of the Company's Net Tangible | ||||||||
Assets - NTA as of 30 September 2024. | ||||||||
Interest Rate | Interest rate based on market rate by | Interest rate based on market rate by | ||||||
considering on the return on | considering on the return on | |||||||
investment which lender received from | investment which lender received from | |||||||
other investment, the interest rates for | other investment, the interest rates for | |||||||
short-term loans from financial | short-term loans from financial | |||||||
institutions, credit rating of borrower, | institutions, credit rating of borrower, | |||||||
finance costs and other relevant risks. | finance costs and other relevant risks. | |||||||
With the interest rate at Bangkok | With the interest rate at Bangkok | |||||||
Interbank | Offered | Rate: | BIBOR | Interbank | Offered | Rate: | BIBOR | |
(Borrowing rate on THB) or Secured | (Borrowing rate on THB) or Secured | |||||||
Overnight | Financing | Rate: | SOFR | Overnight | Financing | Rate: | SOFR | |
(Borrowing rate on USD) or | (Borrowing rate on USD) or | |||||||
appropriate interest rate in the case of | appropriate interest rate in the case of | |||||||
market disruption. | market disruption. | |||||||
Please be informed accordingly.
Sincerely yours,
- Phichin Aphiwantanaporn -
(Mr. Phichin Aphiwantanaporn)
Senior Executive Vice President, Corporate Accounting & Finance
Finance & Investor Relations Department
Tel. 02-765-7380
2/2