YGG shareholders give green light to increase capital, move to SET and expand business with foreign partners
Mr. Thanat Juwiwat, Executive Chairman of Yggdrasil Group Public Company Limited (YGG), revealed that at the Extraordinary General Meeting of Shareholders held on February 4, the shareholders unanimously approved the Company to increase Registered capital of 256 million baht from the original registered capital of 90 million baht to a registered capital of 346 million baht by issuing and offering 512 million new ordinary shares at a par value of 0.50 baht per share, which this capital increase is due to the company’s plans to move Company’s securities from the Market for Alternative Investment (mai) to trade on the Stock Exchange of Thailand (SET), so it is necessary to increase capital. In order to qualify according to the regulations of the SET, the paid-up capital must not be less than 300 million baht, as well as raising funds to support future investment opportunities of the company that may occur in a period of 6 months. Up to one year in the future, however, the move from the Market for Alternative Investment (mai) to the Stock Exchange of Thailand still requires approval from the stock exchange.
Mr. Thanat said It will also help promote the image of the company better. especially going to do business with foreign partners And also help make YGG have more capital to continue doing business with foreign partners as well. At the same time, it also increases the liquidity of stocks (free float) in the market for the company as well. because of the past Shareholders are always inquiring about the liquidity problem of the small number of YGG shares in the market.
For details of capital increase The Company will allocate 360 million newly issued shares of the Company with a par value of 0.50 baht per share to the existing shareholders in proportion to their shareholding (Rights Offering) at the allocation rate of 1 existing share per 2 newly issued shares at the offering price. 0.50 baht per share, total value 180 million baht
The Extraordinary General Meeting of Shareholders also resolved to approve the Company Allocation of newly issued ordinary shares of the Company to support the exercise of warrants to purchase ordinary shares of the Company No. 1 (YGG-W1) in the amount of 90 million shares with a par value of 0.50 baht per share at the exercise ratio of 1 warrant YGG-W1 per 1 newly issued ordinary share. The YGG-W1 warrants will be allocated to the existing shareholders at the rate of 4 new ordinary shares per 1 unit of YGG-W1 warrants free of charge. Equity amounting to 45 million baht. The company determines the list of shareholders who are entitled to be allocated YGG-W1 on February 14, 2022.
In addition, the Extraordinary General Meeting of Shareholders resolved to approve the Company to allocate 62 million new shares (par 0.50 baht) to support the interim stock dividend payment for the 9-month period of this year (1 Jan.-30 Feb. Nov. 21) to shareholders at the rate of 2.90322581 existing shares per 1 stock dividend, which will determine the list of shareholders who are entitled to receive dividends on February 14, 2022 and determine the dividend payment to the holders Shares on March 3, 2022
As for the business direction in 2022, the company aims for revenue to grow 15-20%, with all businesses growing continuously. Both the game business and innovation. Advertising and cinematography (VFX), including animation films, and currently YGG has penetrated into the upstream in all business segments. which is growing according to the trend of the world
