SCGL and JWD announce merger to combine strength to leverage regional business expansion – QNT Press Release




Becoming ASEAN’s largest integrated logistics and supply chain service provider

BANGKOK, Oct 27, 2022 – (ACN Newswire) – SCG Logistics Management Company Limited (“SCGL”) and JWD InfoLogistics PCL (SET: JWD), the two leading logistics and supply chain service providers at the ASEAN level together announced a crucial merger deal to form a partnership under SCG JWD Logistics PCL (SCGJWD) in a move to combine strength and increase the service level capability to become the largest Integrated Logistics and Supply Chains Solutions Provider in the ASEAN region with a wide variety of integrated services to cover all industrial groups to increase the opportunities for exponential growth derived from the customer bases of the two companies, while drawing up a strategy to expand the businesses in the ASEAN region.

Mr. Charvanin Bundikitsada, Chairman of the Executive Committee and Chief Executive Officer of JWD Pcl. (JWD), revealed that the Company has moved ahead to merge the Company with SCG Logistics Management Company Limited (SCGL), which is a subsidiary of Siam Cement PCL (SCC), following the Company’s Board of Directors’ Meeting on October 26, 2022 resolving to propose to the shareholders’ meeting to consider and approve the merger between JWD and SCGL.

In this merger transaction, JWD will issue new ordinary shares to the amount of not more than 791,020,363 million shares and offer them as private placements (PP) to the existing shareholders of SCGL at the price of 24.02 baht per share as compensation for the transfer of all SCGL ordinary shares in a share swap. Following the completion of the share swap, SCGL’s existing shareholders will hold shares in JWD in the proportion of not more than 43.7 percent of all JWD’s voting shares after the transaction.

In this regard, JWD will convene the Extraordinary General Meeting of Shareholders No. 1/2022 on December 8, 2022 at 1:30 pm at Banthat Thong Meeting Room, 6th Floor, JWD Store it!, after setting the record date to finalize the list of bona fide shareholders on November 10, 2022, to consider and approve the merger plan and the capital reduction and the increase of the Company’s registered capital to 905,510,153.00 baht from the original 509,999,971.50 baht through the issuance of new ordinary shares as previously stated. The merger transaction of SCGL and JWD is expected to be completed within Q1/2023.

Upon completion of the merger transaction, JWD will change its name to SCG JWD Logistics PCL with the SET-registered abbreviation of SJWD for share trading in the Stock Exchange of Thailand, The new Company will be managed jointly by Co-Chief Executive Officers (Co -CEOs) – Mr. Bunn Kasemsup, representing SCGL, and Mr. Charvanin Bunditkitsada, representing JWD. SCGJWD will proceed with …

Full story available on Benzinga.com



Source link

Recommended For You

About the Author: News Center