Page 16 - PSTC - One Report 2023 (EN)

Annual Report 2023 (Form 56-1 ONE REPORT)
15
Main Events
2021
On 16 February 2021, the Company sold common shares in Navarat Beverage Company Limited in the amount of 50,000 baht in accordance with the resolution of the Board of Directors of Power Solution Technology Public Company Limited No. 3/2021, which held a meeting on 9 February 2021 and approved the disposition of 55,000 common shares of Navarat Beverage Company Limited (“NWR”) at the par value of 100 baht per share or 11% of the registered capital amounting to 55,000 baht. The company is engaged in bioenergy power generation business, has resulted in the company’s shareholding being reduced from 51% to 40% of the paid-up capital.
On 23 March 2021, the Company signed a share purchase agreement with BGT Logistics Company Limited in accordance with the resolution of the Board of Directors’ Meeting of Power Solution Technology Public Company Limited No. 2/2021 on 25 February 2021 approving the investment in BGT Logistics Company Limited to further expand and strengthen the LPG and LNG fuel distribution businesses. The post-transaction and capital increase of Biggas Technology Company Limited will make it the majority shareholder in 97.80% of the paid-up capital.
On 28 April 2021, the Company sold its common shares in Biogreen Energy 3 Company Limited The amount received was 12,000,000 baht to Energy for All Company Limited in accordance with the resolution of the Board of Directors’ Meeting of Power Solution Technology Public Company Limited No. 10/2020 held on 16 September 2020. A resolution was passed for the Company to sell all of its shares in Biogreen Energy 3 Company Limited (“BGE 3”) divided into 4,900 common shares with a par value of 10 baht per share and 5,100 preferred shares at a par value of 10 baht per share, or 100% of the registered capital of biomass power generation business.
On 5 May 2021, the Company registered the dissolution of two subsidiaries, Big Power Corporation Company Limited and PST. MSW 1 Company Limited adopted the resolution of the Board of Directors’ Meeting of Power Solution Technology Public Company Limited No. 6/2021, which was convened on 22 September 2021, because there were no longer plans to continue with the projects.
On 14 May 2021, the Company registered the dissolution of two subsidiaries, PST (Ubon Ratchathani) Company Limited and Windgo Green Company Limited, in accordance with the resolution of the Board of Directors’ Meeting of Power Solution Technology Public Company Limited No. 6/ 2021, which was convened on 22 September 2021, because there were no longer plans to continue with the projects.
On 7 June 2021, Biggas Technology Company Limited (a subsidiary) signed a joint contract with China Petroleum Pipeline Engineering Company Limited and China Petroleum Pipeline Bureau Company Limited for the construction of a natural gas pipeline from PTT Public Company Limited’s Rayong gas separation station to the Map Ta Phut Industrial Estate for a distance of approximately 13 kilometers. The project will take place over a period of approximately 2 years.