Report of Trading & Installation project of Solar Lighting Project of the Suphanburi Provincial Administrative Organization (PAO) for 30 Roads – new customer
25/06/2024

Update Regarding Previously Disclosed on April 29, 2024 of Investment Considerations

SET requests to clarify news or information

 

 

Subject                                  : Update Regarding Previously Disclosed

 on April 29, 2024 of Investment Considerations

Description                              :

In response to inquiries from the Stock Exchange of Thailand (SET) on April 26,

2024 concerning potential securities price-effected developments, Twenty-Four

Con & Supply Public Company Limited ("24CS" or "the Company") provides an update

 on investment considerations previously disclosed on April 29, 2024.

 

Following the disclosure regarding potential investments in other companies,

24CS conducted thorough due diligence through external experts. This process

revealed a significant discrepancy between assets previously reported by the

target company and those essential for future revenue generation. This

discrepancy posed a substantial risk to the Company's ability to achieve

projected returns on investment. Furthermore, an independent financial advisor's

valuation of the target company yielded a value lower than initially

negotiated. Negotiations to revise the purchase price to a mutually agreeable

level proved unsuccessful. Therefore, to safeguard the best interests of

shareholders, the Company has decided to forego the aforementioned investment.

 

 

                         Signature ___________________________

                                    ( SANTI MANEEWONG )

                                    Chief Financial Officer

                         Authorized to sign on behalf of the company

 

______________________________________________________________________

This announcement was prepared and disseminated by listed company or issuer

through the electronic system which is provided for the purpose of dissemination

of the information and related documents of listed company or issuer to the

Stock Exchange of Thailand only.  The Stock Exchange of Thailand has   no

responsibility for the correctness and completeness of any statements, figures,

reports or opinions contained in this announcement, and has no liability for any

losses and damages in any cases.  In case you have any inquiries or

clarification regarding this announcement, please directly contact listed

company or issuer who made this announcement.