L-WAVE ENT 25/2022
24 June 2022
Subject:The registration of the reduction of the registered capital by reducing a par value to compensate the accumulated loss of the Company, the change in paid-up capital and the amendment of Clause 4. of the Memorandum of Association to be in line with the reduction of the registered capital
To: President
The Stock Exchange of Thailand
Reference is made that the 2022 Annual General Meeting of Shareholders (No. 29/2022) of Wave Entertainment Public Company Limited (the "Company"), which was held on 11 April 2022, approved the reduction of the Company's registered capital in the amount of Baht 471,958,377.50 from the registered capital of Baht 943,916,755 to the registered capital of Baht 471,958,377.50 and the reduction of the Company's paid-up capital by reducing a par value of the shares from Baht 1 each to Baht 0.50 each in order to compensate the accumulated loss of the Company by which the number of shares remains the same at 943,916,755 shares, and the amendment of Clause 4. of the Memorandum of Association to be in line with the reduction of the registered capital. The Company has announced the resolution of the capital reduction in newspapers for 3 consecutive days on 18, 19 and 20 April 2022 and has notified the Company's creditors of the resolution for capital reduction in writing on 18 April 2022 and specified in the notice that any objection thereto should be submitted within 2 months from the date which the creditors received the notice of such resolution as well as completely taken all relevant actions required by law.
In this connection, the Company would like to inform that, on 24 June 2022, the Company has already registered with the Department of Business Development, the Ministry of Commerce the reduction of the Company's registered capital in the amount of Baht 471,958,377.50 from the registered capital of Baht 943,916,755 to Baht 471,958,377.50 and from the paid-up capital of Baht 785,261,701 to Baht 392,630,850.50 by reducing a par value of the shares from Baht 1 each to Baht 0.50 each, in order to compensate the Company's accumulated loss (after the registration of capital reduction, the number of total ordinary shares of the Company shall be 943,916,755 shares and the number of paid-up ordinary shares of the Company shall be 785,261,701 shares, which remain the same to the numbers prior to the registration of capital reduction) as well as the amendment of Clause 4. of the Company's Memorandum of Association to be in line with the reduction of the registered capital.
Please be informed accordingly.
Yours sincerely,
- Mr. Matthew Kichodhan -
Mr. Matthew Kichodhan
Chairman and CEO
Wave Entertainment Public Company Limited