ITC Shareholders Approve 6 Billion Baht Loan to TU

Prachachat•Economy•2d ago

Reader Briefing

ITC shareholders have approved a loan facility of up to 6 billion baht for TU to utilize excess liquidity for higher returns.

•ITC shareholders approved a maximum loan of 6,000 million baht to TU.
•The approval received 93.7% of the votes from attending shareholders with voting rights.
•TU was ineligible to vote in this agenda due to being a shareholder with a vested interest in the transaction.
•ITC maintains sufficient liquidity for normal business operations and future expansions.

•ITC shareholders voted to approve a loan facility of up to 6,000 million baht for TU.
•The resolution was passed with 93.7% approval from eligible voting shareholders, exceeding the required three-fourths threshold.
•TU did not have voting rights in this matter as TU is a shareholder with a vested interest in the transaction.
•The loan is intended as a method to manage excess cash to increase the opportunity for returns.
•ITC confirms that the loan will not affect the capital reserved for business operations or investment plans.
•ITC established a condition allowing the company to recall the loan if the funds become necessary.
•Non-interested directors are tasked with regularly reviewing the exercise of the right to recall the loan to protect the interests of ITC and its shareholders.

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ITC

The company whose shareholders approved a loan to TU and which manages the loan recall conditions.

A shareholder with a vested interest in the transaction and the recipient of the approved loan from ITC.