Grande Asset Hotels and Property Public : Notification of the Calculation of Conversion Price of the Convertible Debentures of GRAND
June 09, 2022 at 01:02 pm
Share
(Translation)
Ref. KorNgor. 03/06/2022
9 June 2022
Subject
:
Notification of the Calculation of Conversion Price of the Convertible Debentures
of the Company.
To
:
Director and Manager,
The Stock Exchange of Thailand.
According to Grande Asset Hotels and Property Public Company Limited (the "Company") has entered into the agreement for issuance and offering the newly convertible debentures pursuant to the Convertible Debentures Agreement for "Grande Asset Hotels and Property Public Company Limited's long-term convertible debentures No. 5/2022 due 2025" ("Convertible Debentures") to Advance Opportunities Fund ("AO Fund") and Advance Opportunities Fund I ("AO Fund I") which are collectively referred to as "Convertible Debenture Holders". And then AO Fund notified the conversion of the Convertible Debentures on 9 June 2022 as follows:
The Company's
Amount of
Remaining
Exercise the right to conversion
Remaining debentures after
long-term
debentures
debentures before
(unit)
conversion (Unit)
convertible
(units)
conversion (unit)
(9 June 2022)
debentures
AO Fund
AO Fund I
Total
AO Fund
AO Fund I
Total
No. 1/2022
50,000
-
-
-
-
-
-
-
No. 2/2022
20,000
-
-
-
-
-
-
-
No. 3/2022
20,000
-
-
-
-
-
-
-
No. 4/2022
40,000
-
-
-
-
-
-
-
No. 5/2022
20,000
20,000
10,000
-
10,000
-
10,000
10,000
Total
150,000
20,000
10,000
-
10,000
-
10,000
10,000
On 9 June 2022
AO Fund notified the conversion of the Convertible Debentures in the number of 10,000 units (Baht 10 million) to 50,505,050 ordinary shares.
The conversion prices of AO Fund are equal to 0.198 Baht per share which are not less than 90 percent of the market price, whereby the market price is calculated from the weighted average price of the Company's shares in the SET for the past 7-15 business days. However, the weighted average price of the Company's shares for the past 7 business days is as follow:
Date
Number of Shares
Total Value (Thousand Baht)
30/05/2022
13,027,300
3,068.73
31/05/2022
12,020,600
2,786.17
01/06/2022
5,251,900
1,220.02
02/06/2022
13,291,900
3,135.26
06/06/2022
317,948,800
70,256.41
07/06/2022
18,751,200
4,129.07
08/06/2022
7,649,300
1,705.37
Total
387,941,000
86,301.03
Remark : Information from www.setsmart.com
Weighted average price for 7 business days (Baht/Share)
Trading Volume
Trading Value
86,301,025
387,941,000
=
0.22
90% of the weighted average price (Baht/Share)
=
0.198
Therefore, the convertible price of 9 June 2022 is equal to 0.198 Baht per share which is not less than 90 percent of the market price, resulting that it is not categorized as the condition for prohibition of the sale of shares within 1 year from the date of receiving the convertible securities (Silent Period) pursuant to Notification of the Stock Exchange of Thailand, Re : Rules, Conditions and Procedures Governing the Listing of Ordinary of Preferred Shares issued for Capital Increase B.E. 2558. The Convertible Debenture Holders will receive the shares from the conversion of the Convertible Debentures on 9 June 2022 in the number of 50,505,050 shares. Therefore, there are the remaining capital increase ordinary shares for accommodation of the conversion of the Convertible Debentures in the number of 1,613,954,883 shares.
Please be informed accordingly.
Yours sincerely,
Mr. Somchai Trirattanapitak
Company Secretary
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Grande Asset Hotels and Property pcl published this content on 09 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2022 12:01:05 UTC.
Grande Asset Hotels and Property Public Company Limited is a Thailand-based company. The Company is engaged in hotel, property development and rental businesses. The Company is focused on the investment in internationally and globally managed brand of four to five-star hotels such as Marriott International, and Hyatt International Corporation. Its property development business is focused on short-term return on investment and chooses to develop the properties that are located in prime locations, with close proximity to the convenient mass rapid transportations. In addition, the Company also invested in beachfront condominium and housing projects such as the Hua Hin Blue Lagoon Resort in Cha-am, which is a luxurious high-end residential property. The Company's portfolio includes The Westin Grande Sukhumvit, Royal Orchid Sheraton Hotel & Towers, Sheraton Hua Hin Resort & Spa Hotel, Sheraton Hua Hin Pranburi Villas, Hyde Sukhumvit 11 Condominium and various others.