NMG’s Board Approves the Sale of NINE Shares 33.05% ฿2.62/share,Supporting Core Business
NMG’s Board approved the sale of NINE shares 33.05% THB 2.62/ share within 3 months via SET to support the core business.
NMG’s Board approved the sale of NINE shares 33.05% THB 2.62/ share within 3 months via SET to support the core business.
17 พ.ค. 2562

Nation Multimedia Group Public Company Limited (NMG) has announced to dispose investment in Nation International Edutainment Public Company Limited (NINE), an associate company of NMG which its business operations are publishing, in the total number of shares not exceeding 120,808,387 shares equivalent to 33.05% of the total outstanding shares of NINE, at the price of not lower than THB 2.62 per share. Moreover, the total amount received from the said share offer does not exceed THB 350 million. This share offer will be made to public investor who have not connected persons of the Company. The transaction will be made via the SET under either Automatic Order Matching (AOM) method or Trade Report Method, through securities companies to be appointed by NGM to be a broker of NINE’s shares, one time or several time within three months from the date which Board of Director of NMG has the resolution. 
The objective of this sale is to support NMG’s financial liquidity to be sufficient for business operation and to increase NMG’s financial statement liquidity to be used as working capital and debt repayment which will help to reduce the high-interest burden of the company. As this result after the sale of NINE’s share, NINE will cease to be an associate company of NMG.

In addition, NMG considers the business restructure of the Company’s group in order to cope with consequences from the current economic recession. After this sale of shares of NINE, NMG shall pursue its strategy and policy, focusing on the core business operation that NMG truly has knowledge and expertise in as the strength, which consists of printing media, organizing of related activities, television business concerning the categories of news and content that the Company has expertise in, and production of program contents, including the relevant businesses which have a potential for growth and support the Company’s core business in order that the Company is able to further continuously operate the business and be ready to operate a core business with strength for the growth of its base in the future.

This consideration on the disposal of investment in NINE, an associated company of the Company, is not the disposal of the Company’s main business so that it does not affect the Company’s business operation in the future and does not need to use the disposed asset. Moreover, this disposal of investment in NINE allows the Company to have cash flow to be used as working capital, which would increase the Company’s financial liquidity. In addition, the Company will repay debt to account payables and debts burden which would help reduce the interest burden of the Company.