Thursday, July 29, 2021

business

Dhipaya Insurance proceeded the Shareholding Restructuring by setting up the Holding Company


Dhipaya Insurance proceeded the Shareholding Restructuring by setting up the Holding Company, which is now ready to make a Tender Offer for all TIP’s shares and to be listed on the SET

Dhipaya Insurance Public Company Limited (“TIP”) has notified the Stock Exchange of Thailand on 22 June 2021 that according to the Shareholding and Management Restructuring Plan of TIP, Dhipaya Group Holdings Public Company Limited (“TIPH”) was incorporated and will make a Tender Offer for all shares of TIP from existing shareholders in exchange for newly issued shares of TIPH, at the swap ratio of 1 ordinary share of TIP per 1 newly issued shares of TIPH. The Tender Offer period starts from 24 June 2021 until 30 August 2021 during the hours of 9.00 a.m. to 4.00 p.m. of every business day, totaling 45 business days.

The aforementioned share exchange process does not occur automatically. The exchange of shares will occur only when shareholders accept the Tender Offer.

After the completion of Tender Offer and TIPH meet the criteria for listing of ordinary shares as listed securities, the ordinary share of TIPH will become listed securities on the Stock Exchange of Thailand (the “SET”) in place of the ordinary share of TIP which will be delisted from the SET on the same day. The listing of TIPH share in place of TIP is expected to be completed within September 2021.

The Existing shareholders of TIP can accept the tender offer by contact the brokerage company that you have the securities trading account with or contact Finansia Syrus Securities Public Company Limited, which is the Tender Offer agent, at 7th floor, Mint Tower, 719, Banthadthong Rd., Wangmai, Pathumwan, Bangkok 10330, Telephone: 66 (0) 2680 0843, the contact person is Ms. Chulakull Phumon.

Published : June 23, 2021