- Translation -
No. TOA 16/2022
July 12, 2022
Subject: Report of the Utilization of Capital Increase from IPO
To: President
The Stock Exchange of Thailand
As TOA Paint (Thailand) Public Company Limited (the "Company") issued new shares for capital increase by initial public offering ("IPO") on September 27-29, 2017 for 254 million shares at the price of Baht 24 per share, the Company received proceeds from IPO in the total net amount of Baht 5,887.20 million after deducting underwriting commission and expenses in connection with the offering.
At the Board of Directors' Meeting No. 2/2020 on February 26, 2020, there was a resolution to insignificantly change the objectives of the utilization of proceeds obtained from IPO by reallocating among those objectives specified in the securities offering statement no.2 (1) subject to the Notification of the Office of the Securities and Exchange Commission No. SorJor. 63/2561 (2018) Re: Change in Objectives of Proceeds Utilization under the Securities Offering Statement and Draft Prospectus. The remaining amount as at December 31, 2019 was Baht 2,441.40 million, which can be used for business expansion in Thailand and overseas including the operational working capital of the Company. To comply with the regulatory requirements, the aforementioned change was already notified to the Stock Exchange of Thailand and the 2020 Annual General Meeting of Shareholders.
The Company would like to report the utilization of capital increase from IPO as at June 30, 2022:
(Unit: Million Baht) | |||||
Proceeds | After the change in objectives of utilization of proceeds as at Feb. 2020 | ||||
utilization | |||||
Objective of spending | Remaining as | Remaining | Amount used | Outstanding | |
plan | at | as at | during | balance as at | |
Dec. 31, 2019 | Dec. 31, 2021 | Jan. - Jun., 2022 | Jun. 30, 2022 | ||
1. Use of net proceeds to | 2,030.00 | ||||
expand the business in | |||||
Thailand and overseas, | |||||
including developing and | |||||
improving internal | 2,441.40 | 1,397.59 | 993.93 | 403.66 | |
operational efficiencies | |||||
2. Use of net proceeds for | 3,857.20 | ||||
operational working capital | |||||
of the Company | |||||
Total | 5,887.20 | 2,441.40 | 1,397.59 | 993.93 | 403.66 |
Please be informed accordingly.
Yours Sincerely,
(Mr. Jatuphat Tangkaravakoon)
Chief Executive Officer