Bangkok--3 Jul--CK Power
Mr. Thanawat Trivisvavet, Managing Director of CK Power Public Company Limited ("CKP" or "CKPower"), reported that following CKPower's notification of the schedule to exercise Warrant to Purchase Newly Issued Ordinary Shares ("CKP-W1") for the exercise date of 28 June 2019 with the exercise ratio of 1 unit of warrant per 1.0007 ordinary share, the exercise price of Baht 6.00 per ordinary share, and the exercise document submission period on business day between 21 and 27 of June 2019, the total of 593,816,848 units of CKP-W1 were exercised to purchase 594,232,516 ordinary shares, which amounted to Baht 3,565 million of proceeds to CKPower. Of the total warrants exercised, Ch. Karnchang Public Company Limited ("CK"), a major shareholder of CKPower, was the key contributor, who fully exercised its rights to purchase CKPower's shares.
"The proceeds from the exercise of CKP-W1 have strengthened CKPower's financial position, enabling CKPower to further expand its investment potential in large power projects and to achieve its overall strategic plan. Furthermore, the exercise of warrants demonstrated investors' confidence in CKPower's ability to deliver continuous and sustainable future growth." Mr. Thanawat stated. There are 1,275,767,484 ordinary shares remaining to support the exercise of CKP-W1 in the subsequent exercise periods.
CKP-W1 has a term of five years from the issue date of 29 May 2015. The total of 1,870,000,000 units of CKP-W1 were issued and allotted to the Company's existing shareholders, who subscribed and paid for the newly issued ordinary shares, issued and offered to its existing shareholders in proportion to their shareholdings. The warrants can be exercised on the last business day of March, June, September, and December throughout the term of warrants with the last exercise date on 28 May 2020.
About CKPower:
CK Power Public Company Limited engages in production and sales of electricity generated from three types of energy. CKPower currently owns 13 projects with total installed capacity of 2,167 MW, consisting of two hydroelectric power projects, namely the Nam Ngum 2 Hydroelectric Power Plant with 615 MW installed capacity, operated by Nam Ngum 2 Power Limited (46% owned by CKPower through its shareholding in SouthEast Asia Energy Limited) and Xayaburi Hydroelectric Power Plant with 1,285 MW installed capacity, operated by Xayaburi Power Company Limited (37.5% owned, with full commercial operation scheduled in 4Q 2019); two cogeneration power projects, operated by Bangpa-in Cogeneration Limited (65% owned); and nine solar power projects, 7 of which are under Bangkhenchai Company Limited with total installed capacity of 15 MW (100% owned), one solar power plant with 8 MW installed capacity under Chiang Rai Solar Limited (30% owned) and one solar power plant with 6 MW installed capacity under Nakhon Ratchasima Solar Limited (30% owned).