Microsoft Word - SET Disclosure for Sale of PR

8TH January 2015
To : Managing Director
The Stock Exchange of Thailand
Subject : To report the disposal of shareholding in the newly completed green field
PET bottle grade resin project in Turkey
The Company would like to inform that its wholly owned subsidiary Polyplex Europa Polyester Film San ve Ticaret. A.Ş. (PE), Turkey and its parent company Polyplex (Asia) Pte Ltd (PAPL), Singapore together have entered into a Share Purchase agreement (SPA) with Indorama Netherlands B.V, to sell their entire stake held in Polyplex Resins Sanayi ve Ticaret A.S (PR) which aggregates to 100% of its share capital [67% held by PE and 33% held by PAPL.
PR was incorporated in 2011 and has set up a Greenfield PET bottle grade resin line in Corlu, Turkey which is ready to start production. The transaction is expected to be completed within first quarter of 2015 subject to receipt of necessary approvals and fulfilment of other conditions.
The above divestment would enable the Company to concentrate its resources and management attention towards its core business of plastic films. The transaction would result in significant cash inflows, reduce the leverage on the consolidated balance sheet and enable the Company to grow further.
The value of the transaction calculated in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, is less than 15 percent and the total size of transactions in the past 6 months is also less than 15 percent. Therefore, this transaction is not subject to disclosure as per the regulation concerning the acquisition and disposal of assets of listed companies as prescribed by the regulation of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 (as amended).
Yours faithfully,
Polyplex (Thailand) Public Company Limited
Rohit Kumar Vashistha
Managing Director

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