Bangkok, 3 July 2017 - WHA Utilities and Power PLC. (WHAUP) announced that on 30 June 2017, shareholders at the Extraordinary General Meeting approved the proposed par split from 5 Baht to 1 Baht, which is expected to become effective this month. This move aims to increase stock liquidity and accessability wider groups of investors. In the same meeting, the proposed plant to issue debenture at no more than 5,000 million Baht to refinance existing loan to reduce financial costs was also aproved. WHAUP is expecting an outstanding performance for Q2/2017, due to the increasing demand for industrial water and the resumption to full operations of the GHECO One plant.

Mr. Wisate Chungwatana, Chief Executive Officer, WHA Utilities and Power PLC. (WHAUP), explained, “Shareholders approved the proposed par split from a par value of 5 Baht to 1 Baht, while maintaining the registered capital at 3,825 million Baht. The total number of common shares will therefore increase from 765 million shares at par 5 Baht to 3,825 million Baht shares at par 1 Baht. In addition, the proposal to issue debenture at no more than 5,000 million Baht to reduce financial cost was also approved. Issuance to institutional and major investors is expected to start in Q3 this year. WHAUP will later work on the details of the debenture structure based on the market conditions and interest rates for maximum benefits.”

“The company expects the new par value to increase liquidity and accessability by wider groups of investors. The Q2/2017 business outlook is positive and is expected to grow as planned. GHECO One has resumed full operations in Q2, after just 54 days of operation in Q1. Moreover, an additional power plant, out of of 4 scheduled this year, achieved Commercial Operation Date in May” he added.

The demand for industrial water and waste water management from existing and new clients in industrial estates have also increased. The company expects total sales volume and service this year could reach over 100 million cubic meters, or a 20 million cubic meter increase compared to the previous year.

Meanwhile, revenue and share of profit in 2017 is expected to jump around 100% this year, compared to 1,756 million Baht in the previous year.