Acquisition of SRLs Coal Assets by PTTs subsidiary Conference call 11 November 2010
Summary PTTs long-term strategy is to expand our investment into high-quality coal assets with good growth prospects. On Nov 11, 2010, PTTI (via PTTML) has entered into a Scheme Implementation Agreement with SRL to acquire 100% of…
Existing SRL, PTTAPM Shareholding Structure PTT 100% Free Float before Standard Chartered convertible (TH SET listed) StandChart convertible notes notes ( 5% management) (convertible to 19%) 100% PTT International (PTTI) Straits…
Process Illustration Step 1: SRL Demerges Step 2: PTTI acquires Residual SRL SRL PTT Shareholders SRL 100% Shareholders 100% 100% SRL PTTI MetalsCo (CoalCo) 100% MetalsCo Demerge via a scheme PTTML of arrangement…
Process and Indicative Timetable Key milestone Date Acquisition scheme announced 11 Nov 2010 First court hearing Late December 2010 SRL scheme meetings Late January / early February 2011 Second court hearing for Demerger…