On 12 December 2018, the Board of Directors of Eastern Printing Public Company Limited (EPCO) has approved EPCO to purchase shares of the WPS (Thailand) Co., Ltd. (WPS), which is a company that is in the printing business of newspapers, books and other printing material in the amount THB42.25 million shares or 84.50% of registered ordinary shares of WPS from the Nation Multimedia Group PCL.
On 10 July 2019, the Board of Directors of EPCO has approved EPCO to purchase more shares of WPS in the proportion of 15% of WPS’s shares at a price THB9.645 per share according to the price agreed between EPCO and the seller in the amount of THB72.34 million. After the acquisition, EPCO will hold shares in 99.50% share. Additionally, EPCO will sign a share purchase agreement of WPS and transfer of WPS shares from the seller within July 12, 2019.
According to increasing 15% share of WPS, the Board of Directors has considered these transactions carefully and then by considering all the conditions, the appropriate value for trading and expansion of facilities to packaging. The Board of Directors had opinions that the acquisition of assets mentioned above is an appropriate transaction and will benefit the Company and shareholders.