Advanced Info Service Public Company Limited (ADVANC) revealed that the Board of Directors meeting Approved for Advance Wireless Network Company Limited (AWN) to purchase shares in Triple T Broadband Public Company Limited (TTTBB) in the amount of 7,529,242,385 shares, representing 99.87% of the total issued shares of TTTBB from Acumen Co., Ltd. (ACU), a subsidiary of Plc. Jasmine International (JAS), which includes TTTBB’s two subsidiaries, Triple T Internet Company Limited and In Cloud Company Limited, and the acquisition of Three BB Company Limited, is worth Total 19,500 million baht
and will purchase 1,520,000,000 units of Jasmine Broadband Internet Infrastructure Fund (JASIF) from JAS, representing 19.00% of the total investment units of JASIF, at a price of 8.5 baht per unit, totaling 12,920 million baht.
including the two transactions, namely the share purchase transaction and the purchase of investment units with a total value of 32,420 million baht.
AWN signed a memorandum of understanding with ACU and JAS on July 3 for the purchase and sale of TTTBB shares and JASIF (Undertaking Agreement) investment units. television business and the National Telecommunications Commission (NBTC) before signing the share purchase agreement and unit trust The transaction is expected to be completed by the 1st quarter of 2016.
This investment will enable consumers to benefit from fast internet services. and good quality covers a wider area Promote investment to new areas so that Thai people can get access to the Internet thoroughly. especially in the provincial areas and the outskirts of the city including in accordance with the company’s strategic goals to expand the growth in home internet business and develop the fiber network in Thailand as a whole to be efficient Reduce unnecessary redundancy of fiber cabling. which reduces the impact on the environment Overall, this investment will promote the creation of added value of the business and sustainable benefits to those involved, including customers society and long-term shareholders
In addition, the company’s financial position is strong. and has become the main sponsor and tenant of the Infrastructure Fund. will encourage unitholders to receive more stable returns and conditions will be adjusted for long-term sustainability as well as providing opportunities for funds to invest in the Company’s telecommunication assets more in the future
In addition, the Company still has the ability to borrow more. Therefore, it plans to use borrowings for this transaction, including maintaining a dividend payment policy of not less than 70% of net profit. The above-mentioned share purchase and unit purchase transaction has a total value of 32,420 million baht. The company will use funding sources. from operating cash flow and loans from financial institutions. At present, the company is in the process of negotiating for credit lines from financial institutions.