ITC Shareholders Approve 6 Billion Baht Loan to Thai Union

Khaosod•Economy•1d ago

Reader Briefing

i-Tail Corporation shareholders have approved a 6 billion baht loan to Thai Union Group using excess cash.

•i-Tail Corporation approved a loan of 6 billion baht to Thai Union Group.
•The loan is sourced from i-Tail Corporation's excess cash to create efficient returns.
•Shareholders with voting rights representing 93.7% approved the transaction.
•Thai Union Group abstained from voting due to being a conflicted shareholder.

•i-Tail Corporation approved providing a 6 billion baht loan to Thai Union Group.
•i-Tail Corporation intends to manage excess cash to generate efficient returns.
•Shareholders with voting rights totaling 93.7% voted in favor of the transaction.
•Thai Union Group had no voting rights in this matter as a shareholder with a conflict of interest.
•The approval rate exceeded the required threshold of no less than three-fourths.
•i-Tail Corporation expects the transaction to create better returns from excess cash while maintaining sufficient liquidity for normal operations and future expansion.
•i-Tail Corporation implemented measures to protect its interests, including a maximum loan limit and the ability to recall the loan when necessary.
•Non-conflicted directors will regularly review the exercise of the loan recall right.

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i-Tail Corporation(ไอ-เทล คอร์ปอเรชั่น)

The company that approved a 6 billion baht loan to Thai Union Group using its excess cash.

Thai Union Group(ไทยยูเนี่ยน กรุ๊ป)ℹ️

The recipient of the 6 billion baht loan and a shareholder of i-Tail Corporation with a conflict of interest.