"STARK shareholders" approve spending 2 billion baht to buy LEONI shares to expand EV business, expected to be completed 4/65.

Mr. Chanin Yensudjai, Chairman of the Board of Directors of Stark Corporation Public Company Limited (STARK), revealed that The Extraordinary General Meeting of Shareholders No. 1/2565 resolved to approve the purchase of shares in LEONI Kabel GmbH and LEONIsche Holding Inc in the proportion of 100%. The total transaction value does not exceed 560.00 million euros, or approximately not more than 20,572.89 million baht.

At the same time, there was a resolution to approve the increase in the registered capital of the company in the amount 1,500,000,000 baht from the original registered capital of 15,875,206,607 baht is the new registered capital. 17,375,206,607 baht by issuing additional common shares in the amount 1,500,000,000 shares (par value 1.00 baht per share) and resolved to allocate additional common shares of the company for sale to a limited number of persons (Private Placement)

By investing in the business of Business Group Automotive & EV cable (BG AM) under the name of LEONI Kabel, a subsidiary of LEONI AG (“LEONI”), which is a company listed on the Frankfurt Stock Exchange. Germany and LEONIsche registered under the laws of the state of Delaware. is a subsidiary of LEONI. Bordnetz-Systeme GmbH is also a subsidiary of LEONI.

BG AM, 100% acquired by STARK, is the world's largest manufacturer of automotive cables and EV charging solutions, with 2021 sales of approximately USD 1.4 billion. The head office is located in Germany. and 10 production plants in 7 countries around the world, including Germany, Poland, Slovakia, Hungary, Turkey, Mexico and China, with end-users being OEMs, manufacturers of leading brands of combustion cars and EVs around the world, including European, American, Japanese and Chinese brands. Continuing and expanding STARK's business into businesses related to Automotive, EV and Charging Solutions, from the beginning where STARK was already the number 1 leader in the ASEAN region in the Power Cable group.

“It is expected that the investment will be completed within the 4th quarter of 2565 and additional income will be recognized immediately, resulting in the overall picture in terms of income and profits this year. In addition, LEONI's management team is skilled personnel with more than 20 years of experience in the automotive cable manufacturing industry. They are able to transfer knowledge and Know-How to increase production efficiency with industrial 4.0 to be applied to production. of STARK and the introduction of German technology to create additional value for the Power Cable business as well.”