TIDLOR Shareholders Approve New Holding Company
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TIDLOR Shareholders Approve New Holding Company

Ngern Tid Lor Public Company Limited announced that its Extraordinary General Meeting of Shareholders (e-EGM) no. 1/2024, held on 11 June 2024, approved the shareholding and management restructuring plan, including establishing Tidlor Holdings Public Company Limited (Tidlor Holdings) as a holding company.

Following preliminary approval from the Stock Exchange of Thailand (SET) and relevant regulatory authorities, and upon receiving permission from the Securities and Exchange Commission (SEC) to offer new shares, Tidlor Holdings will proceed with a tender offer to purchase all shares of the Company from its shareholders. This will be executed by issuing and offering new ordinary shares of Tidlor Holdings through an offering of Tidlor Holdings’ newly issued shares in exchange for the Company shares at a swap ratio of 1:1.

After the tender offer is completed, which is expected in Q4 2024, Tidlor Holdings will submit the application to list its ordinary shares on the SET, replacing the Company’s, which will be delisted on the same day. Tidlor Holdings will use the same ticker symbol as TIDLOR.

Additionally, the shareholders' meeting approved the transfer of the non-life insurance brokerage business, including AREEGATOR and heygoody, along with other related assets, to a new company that will operate non-life brokerage business on the InsurTech platform in the future (New Company). After the transfer of the InsurTech brokerage business is completed, Tidlor Holdings will acquire 99.99% of shares in the New Company following the listing of Tidlor Holdings’ shares on the SET. This transaction forms part of the shareholding and management restructuring plan.

Mr. Piyasak Ukritnukun, Managing Director (second from the left), expressed his gratitude to the shareholders for their confidence in the company's growth direction. He stated that, "This restructuring plan marks a pivotal moment that will support long-term growth by enhancing operational flexibility in both the lending and insurance brokerage businesses. It will improve our competitive edge and expand opportunities into related business areas, including the potential for strategic partnerships through mergers or joint ventures. These initiatives will significantly strengthen the group's overall business, enabling more efficient risk management across diverse business lines."

Shareholders can follow the detailed progress of TIDLOR’s shareholding and management restructuring at www.tidlorinvestor.com.

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