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Incorporation Of A New Joint Venture Company - Food And Beverage United Co., Ltd.

Back Oct 05, 2020
Issuer
Issuer/ Manager THAI BEVERAGE PUBLIC CO LTD
Announcement Title Change - Change in Corporate Information
Date & Time of Broadcast Oct 5, 2020 21:59
Status New
Announcement Sub Title Incorporation of a New Joint Venture Company - Food and Beverage United Co., Ltd.
Announcement Reference SG201005OTHRDX4X
Submitted By (Co./ Ind. Name) Nantika Ninvoraskul
Designation Company Secretary
Description (Please provide a detailed description of the event in the box below) We, Thai Beverage Public Company Limited ("THBEV"), would like to announce that BevTech Co., Ltd. ("BevTech"), a direct wholly-owned subsidiary of THBEV, has entered into a 51-49 joint venture with Thai Union Ingredient Co., Ltd. ("Thai Union Ingredient"), an unrelated third party company incorporated and registered in Thailand, which is a wholly-owned subsidiary of a Thai listed company, and pursuant to which, a new joint venture company known as Food and Beverage United Co., Ltd. ("FBU") has been incorporated in Thailand.

FBU has a registered capital of Baht 10,000,000 consisting of 1,000,000 ordinary shares with a par value of Baht 10 each. BevTech holds 509,999 shares representing 50.9999% of all the issued shares in FBU, Thai Drinks Co., Ltd., a subsidiary of THBEV holds 1 share representing 0.0001% of all the issued shares in FBU, while Thai Union Ingredient holds 490,000 shares representing 49% of all the issued shares in FBU. FBU is therefore an indirect subsidiary of THBEV. FBU will be principally engaged in product development, production and distribution of nutritious food and beverage products under brand or trademark of FBU.

The aforesaid investments 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.

Please be informed accordingly.

Yours faithfully,

Nantika Ninvoraskul
Company Secretary
Place Of Incorporation
Existing Thailand
Subsidiary
Existing NA
New Food and Beverage United Co., Ltd.
Registered Address