"The Board of Grammy" Passed a Resolution Approving the Capital Increase Grammy's Aiming to Become the King of Media & Contents of Thailand
Miss Boosaba Daorueng, Group Executive Chief Officer, GMM Grammy PLC announced that
on July 15, 2013, the Board of Directors meeting passed a resolution approving the increase of the company's registered capital through issuance of new ordinary shares with a ratio of 5 existing shares to 1 new ordinary share, totaling 106,052,989 shares at the sale price of 10.00 baht/ share. The company's expected cash is 1,060,529,890 baht. The purpose of this capital increase is for Strategic Investment in Digital Terrestrial TV, which will add value to the existing business. We're aiming to become the "King of Media & Contents of Thailand".
" We're planning to bid at the DTT auction in the third quarter this year. Grammy eyes at three licenses: HD and SD variety channels and Kids channels. This would be the right time for our company to enter the digital TV broadcasting business.
Moreover, DTT is a high competitive business. Grammy is confident that we have all these success factors as follows:
1. Content: Our strength is that we're the largest content provider in Thailand. Our film "Pee Mak Phra Khanong" is the highest grossing Thai film with revenue of more than 1,000 million baht, and our show "Pentor Kan Thep" aired on Channel One as highest rated sitcom. "Hormones" is high rated and talk of the town series which reached 38 million views on youtube.
2. Production professional team who have more than 30 years of experience as well as the reliability from The SET AWARD 2012 - Top Corporate Governance Report Awards.
3. Funds: Our Company is building aid effectiveness through fund managements. We raised funds from 3 sources, which are loans from financial institution, divesting of others long term investments and the right offering.
Furthermore, Potential strategic partners are interested in joining with our company. Our company is in the process of feasibility study.
Miss Boosaba said "We believe that the Capital Increase will build adequate capital structure. Digital Terrestrial TV is new business which adds value to the existing business. We're aiming to be King of Media & Contents of Thailand which will result in sustainable revenue growth and increase shareholder value"