set to enter JV with GEL
16 March 1994
LOXLEY SET TO ENTER JV WITH GEL
LOXLEY reported an approval of its board directors on March 14, 1994 to
enter a joint venture agreement with General Engineering Plc (GEL) to form a
new company, Loxley Infra Co Ltd.
The registered capital of the new company is set for Bt20 million. The new
company will focus on public telephone network installation and other public
works.
Preperation to set up the new company is now underway.
The objective of the investment is to support Loxley's main business,
particulary the extension of its own telecommunication services.
Details of the investment are as follows:
@ New Company Name : Loxley Infra Co Ltd
@ Kind of Business : Telephone Network Installation and other infra-structure
development
@ Registered Capital : 200,000 shares at Bt100 par value, amounting to Bt20
million
@ Shareholding Structure : Loxley will hold 120,000 shares or a 60% stake, and
GEL will hold 80,000 shares or a 40% stake.