PLANB approves 860 million baht investment to buy 46.28% of iCare's capital increase shares

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Summary · why it matters

Plan B Media Public Company Limited, or PLANB, announced that its board of directors at meeting No. 8/2569 on 28 September 2569 resolved to approve the company's subscription to newly issued ordinary shares of iCare Insurance Public Company Limited, or iCare, a subsidiary of Com Seven Public Company Limited, or COM7, totaling 1,126,302,583 shares with a par value of 0.25 baht each, representing 46.28% of the total shares of iCare after the issuance and offering of new ordinary shares to specific investors, at a total price of 860 million baht, or a subscription price of 0.7635604 baht per share. This subscription will be carried out subject to conditions precedent under the share subscription agreement, including obtaining consent from iCare's relevant counterparties, approval from the shareholders' meetings of COM7 and iCare, and approval from the Office of the Insurance Commission. The company expects the process to be completed by the end of 2569. After the transaction is completed, PLANB will hold 46.28% of iCare's total shares, and iCare will no longer be a subsidiary of PLANB. This investment aims to generate long-term returns, with the company seeing growth opportunities in the mobile phone insurance business and electronic device protection products, driven by the trend of higher-value smartphones and expanding purchases through credit and installment plans. It also sees potential in iCare from its expertise and distribution network, customer base, and sales channels within COM7's ecosystem.

Impact on assets 2

Communication Services▲ · 1 stocks
Plan B Media PCL
PLANB
▲ PositiveCapitalrelevance

PLANB board approved an 860 million baht investment for 46.28% of iCare, aimed at long-term returns.

Consumer Discretionary▲ · 1 stocks
Com7 PCL
COM7
± MixedCapitalrelevance

COM7's subsidiary iCare is issuing new shares to PLANB, diluting COM7's stake; COM7 shareholder approval required, but no clear value impact stated.

Off-coverage companies 1

iCare Insurance Public Company LimitedPrivate▲ Positive
Capitalrelevance

iCare receives an 860 million baht capital injection from PLANB's subscription to its new shares.

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