@Chinwi wrote:UPDATE :
This is the notice given to Thai Stock exchange by Group Lease PLC , Thailand. So they are actually going to pay Rs. 111 per share ! and expecting US $ 7 million (1 billion LKR) annual profit immediately . That is EPS of Rs. 11 for COCR. (Current EPS of COCR is Rs. 7.32 Y/y)
According to GL Chairman and CEO Mitsuji Konoshita, GL's latest decision to buy 29.99% of Commercial Credit & Finance Plc (CCF) will further enhance the strategic partnership between the two groups. "We will combine GL's efficient digital finance platform with CCF's successful microfinance model to grow our businesses in all markets where we are and will be present. This acquisition will bring estimated consolidated profits of about US$ 7 million annually starting immediately in Q4 this year
," Mr. Konoshita said.
Ref: GL 25/2016
October 3, 2016
Subject: Notification of the resolutions of the Board of Directors’ Meeting No. 12/2016 of the
Company to approve the acquisitions of shares in companies in Sri Lanka and Myanmar
Attention: the President
The Stock Exchange of Thailand
Enclosures: 1. Information Memorandum on Acquisition of Assets of Group Lease Public Company
Limited Re: Share Acquisitions.
2. Information Memorandum on Connected Transactions of Group Lease Public
Company Limited Re: Share Acquisitions
Following the Board of Director’s Meeting of Group Lease Public Company Limited (the
“Company”) No. 12/2016 held on 30 September 2016, the Company would like to inform the important
resolutions of which can be summarized as follows:
1. Approved the acquisitions of shares in a listed company in Sri Lanka.
1.1 Approved the acquisition, by the Company and/or the Company’s subsidiary, Group Lease
Holdings PTE. Ltd. (“GLH”), of 95,390,500 ordinary shares in Commercial Credit and Finance PLC
(“CCF”), representing approximately 29.99% of total share capital in CCF, at a purchase price at LKR 111 per share
(equivalent to approximately THB 26.35 per share, exchange rate 0.2374 baht per 1 LKR – 29 Sep. 16), amounting to the total value of LKR 10,588,345,500 (equivalent to approximately THB 2,513.67 million), from BG Investments (Private) Limited, Creation Investments Sri Lanka LLC (“Creation SL”) and Mr. Stephen L. Lafrance Jr. (the “CCF Acquisition”) and the entering into asset acquisition transaction of a listed company.
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Please be informed accordingly
(Mr. Tatsuya Konoshita)