MIDA Assets Public Company Limited reported the board resolution no. 9/2561, concerning the approval of investment in founding a subsidiary, with details as follows:
Execution date: 23 January 2018
Company name: MW Wellness Management Company Limited
Company objective: To operate and manage hotels, resorts, commercial buildings, condominiums, housing estates, spa, Thai massage, and health massage businesses.
Registered capital: 2,000,000 baht (two million baht) divided into 200,000 shares, each share being worth 10 baht.
Shareholding percentage: MIDA Assets Public Company Limited holds 51.00 percent of the shares.
Source of capital: The company’s working capital;
In accordance with procedures on investing in other juristic persons, the company discloses the investments which exceed 10 percent of paid-up capital of the invested companies. Such transactions are not considered as affiliations, and the sizes of the transaction do not meet the criteria of acquisitions or dispositions of significant assets, in reference to notification of the Stock Exchange of Thailand.