Page 159 - MONO_AR_2016_EN

On 19 February 2016, a meeting of the Company’s Board of Directors passed the following significant resolutions:
a) Approved the establishment of “T moment Co., Ltd.” by the Company, which invested in 1,999,997 ordinary shares of Baht 100 each, with 25% of the registered capital call up amounting to Baht 50 million. On 18 March 2016, the Company made full payment of this share capital. The Company’s shareholding in T moment Co., Ltd. was at 100 percent.
b) Approved the acquisition all of the additional ordinary shares of Mono Production Co., Ltd., 15,000,000 ordinary shares of Baht 100 each, amounting to Baht 1,500 million. The Company’s shareholding in this subsidiary remained unchanged. On 21 March 2016, the Company made full payment of such share capital.
On 11 May 2016, a meeting of the Company’s Board of Directors passed the following significant resolutions:
a) Approved the acquisition all of the additional ordinary shares of Mono Generation Co., Ltd., 8,500,000 ordinary shares of Baht 100 each, amounting to Baht 850 million. The Company’s shareholding in this subsidiary remained unchanged. On 3 June 2016, the Company made full payment of such share capital.
b) Approved the registration of the dissolution of PT Mono Technology Indonesia and Mono Technology Korea Corporation. The subsidiary companies are currently in the process of liquidation and completely liquidation on 31 October 2016, respectively.
In December 2016, the Board of Directors’ Meeting of T Moment Co., Ltd., a subsidiary, approved to call up a further 7.5% of its registered capital, or a total of Baht 15 million. The Company’s shareholding in this subsidiary remained unchanged. On 8 February 2017, the Company made full payment of such share capital.
As at 31 December 2016, the net asset value of subsidiaries was Baht 382 million (2015: Baht 415 million) lower than the cost of investment. However, the Company did not record the impairment of the investments since the management of the Company believed that the decrease in value was not permanent.
Annual Report 2016
Mono Technology Public Company Limited 159
19