TWZ018/2022
August 11, 2022
Subject : Notification of the Cessation of Subsidiary Status
Attention : The President
The Stock Exchange of Thailand
TWZ Corporation Public Company Limited (the "Company") would like to inform that the Board of Directors Meeting No. 5/2022 held on August 11, 2022 , it passed a resolution approving the closure of the business. of ZENITH GLOVES COMPANY LIMITED, a subsidiary of the Company. With details as follows,
1. The information of the dissolved subsidiary
Name : | ZENITH GLOVES COMPANY LIMITED | |||
Business operation : | Joint venture and / or investing in new business of the Group regarding | |||
the business of manufacturing, importing and distributing drugs, pharmaceuticals, | ||||
chemicals, medical instruments, rubber gloves, which the company | ||||
may operate by itself and / or hold shares in other company | ||||
Registered share capital : | Baht 1,000,000 | |||
Divided into ordinary shares 10,000 shares | ||||
with a par value of Baht 100 per share, fully paid | ||||
Paid-up capital : | Baht 1,000,000 | |||
Shareholding Proportion : | 1. TWZ Corporation Public Company Limited | 9,997 Shares | ||
2. | Mr. Puttachat Rungkasiri | 1 | Share | |
3. | Mr. Teerayot Suthisamdaeng | 1 | Share | |
4. | Miss Nalinee Patubsorn | 1 | Share | |
Total | 10,000 Shares |
- The expected date for registration of the dissolution : within 2022
- Reasons for the dissolution of business : Due to current conditions, The import business faces severe price competition. The return on investment is not worth the risk of the business. Especially the business that the company focuses on is the rubber glove business. Moreover, at present, the Company has not operated any business, therefore the Board of Directors considers the liquidation of the business. in order to reduce the burden of expenses.
- Impact on the operation or financial position of the Company : None
Therefore, ZENITH GLOVES COMPANY LIMITED will cease to be the subsidiary of the Company.
Please be informed
Yours Sincerely,
(Mr. Teerayot Suthisamdaeng) Managing Director (Acting)