: THBEV Price
News

Incorporation Of A New Joint Venture Company - Asiaeuro International Beverage (Hong Kong) Limited

Back Jun 29, 2018
Announcement Title Change - Change in Corporate Information
Announcement Subtitle Incorporation of a New Joint Venture Company - Asiaeuro International Beverage (Hong Kong) Limited
Date & Time of Broadcast Jun 29, 2018 21:41
Submitted By Nantika Ninvoraskul
Company Secretary
Description We, Thai Beverage Public Company Limited ("THBEV"), would like to announce that International Beverage Holdings (China) Limited ("IBHC"), a direct wholly-owned subsidiary of International Beverage Holdings Limited, which is a direct wholly-owned subsidiary of THBEV, has entered into a 51-49 joint venture with Asia Group Corporate Limited ("AGC"), which is a third party company incorporated and registered in Hong Kong, and pursuant to which, a new joint venture company known as Asiaeuro International Beverage (Hong Kong) Limited ("AIB (HK)") has been incorporated in Hong Kong.

AIB (HK) has a registered capital of HKD 100,000. IBHC holds 51% of all the issued shares in AIB (HK), while AGC holds 49%. AIB (HK) is therefore an indirect subsidiary of THBEV. AIB (HK) will engage in sales and distribution of alcoholic beverages, coffee products and other related businesses in Hong Kong and Macau. Initially, the primary focus of AIB (HK) would be the importation, sales and distribution of premium international wines and spirits.

In addition, IBHC and Asiaeuro Wines & Spirits (Shenzhen) Co., Ltd. ("AE (SZ)"), which is a third party company incorporated and registered in the People s Republic of China ("the P.R.C."), have also entered into a 51-49 joint venture pursuant to which a new joint venture company ("Joint Venture in the P.R.C.") will be incorporated and registered in the P.R.C. The major shareholders of AGC are the indirect shareholders of AE (SZ) and have control over AE (SZ). THBEV will make an announcement once the incorporation of the Joint Venture in the P.R.C. is completed. The type of business of the Joint Venture in the P.R.C. is expected to be similar to that of AIB (HK).

The aforesaid investment in AIB (HK) was funded through internally generated funds and is not expected to have any material impact on the earnings per share and net tangible assets of THBEV for this financial year.

To the best knowledge of the directors of THBEV (the "Directors"), neither the Directors nor substantial shareholders of THBEV have any interest, direct or indirect interest (other than through their respective shareholdings in THBEV), in the aforesaid transaction.

Please be informed accordingly.

Yours faithfully,

Nantika Ninvoraskul
Company Secretary
Place Of Incorporation
Existing TH
Subsidiary
Existing NA
New Asiaeuro International Beverage (Hong Kong) Limited