Bangkok--21 May--Media Planner Consultants
UAC Global Pcl., or UAC signaled 3 good news for the shareholders after the Board had a resolution to approve the moving of UAC from the mai to the SET, expecting to serve the business and investment potential expansion plan with sustainable strength I the future. "Mr. Chatchaphol Prasopchoke", President, prepared to submit its request to the SET after its qualification had easily passed the SET's criteria as well as to issue UAC-W2 not exceeding 66.76 million units provided to the existing shareholders for free on July 2. The exercise price was set at 5.55 baht. The last good news was its announcement of its target revenue adjustment to reach 2,500 million baht after the earnings of Q1/18 had the revenue of 1,279.79 70.65 million baht from Q1/17.
Mr. Chatchaphol Prasopchoke, President of UAC Global Pcl., or UAC disclosed that the meeting of the Board of Directors on May 11, 2018 had a resolution to approve the moving of UAC's securities to be listed on the Stock Exchange of Thailand (SET) with the registered capital of 333.80 million baht at the par value of 0.50 per share.
The reasons of the moving of UAC's securities to be listed on the SET were to increase the channel and opportunity of business investment opportunity with growth and sustainability, to serve local and international investment expansion for better potential growth in the future, as well as to strengthen confidence among the existing shareholders and to extent to future investors.
"The moving to be listed on the SET will establish opportunity for local and international fund managers to invest in UAC's shares. The Company has tried to attract Strategic Partners in many aspects such as institutional investors and fund managers to invest in the Company's shares. 2018 is the 8th anniversary of UAC's being listed on the mai. We improved our revenue-profit which has perpetually supported the Company's growth and led to the Company's passing all initial criteria to be the SET's listed company. I think we can immediately submit our request" said Mr. Chatchaphol.
In addition, the meeting of the Board of Directors had a resolution of issuance of UAC-W2 with the amount of not exceeding 66,761,000units offered to the existing shareholders whose names appeared on the Record Date, March 7, 2018, at 10 existing shares to 1 unit of UAC-W2 with no expense. The exercise rate was 1 unit per share at the exercise price at 5.55 baht per share on July 2, 2018. UAC-W2 was 2-year maturity which was effective on the issuing date.
President of UAC Global Pcl., (UAC) added that the business operation would continue to grow in terms of the trading business due to the rise of the utilization demand among refinery and petrochemical customers of which the production had been expanded, leading to an increasing demand of chemical products and equipment utilized in the production process. In addition, the variety of UAC products had matched the customers' demand to continuously use the products for their production process. Moreover, the biodiesel business's high growth came from the continuous support of the government's policy.
According to the business expansion, it has led to the Company's revenue growth adjustment to 2,500 million baht (the record high revenue growth within the Company's 22 years of business operation) from 2,000 million baht. In Q1/2018, the Company's revenue from sales and services was at 1,279.79 million baht, grew by 259.78%, and the net profit increased by 70.65 million baht, or increased by 349.03 % from the same period of the previous year. As a result, the Company was confident that its growth would follow its plan.