Mr. Sahust Pratuknukul, President of Electricity Generating Public Company Limited or EGCO Group stated that “On April 20, 2015, EGCO Group’s Investment Committee approved to divest 74.19% stake in EGCOM Tara Company Limited which is indirectly owned by EGCO Group through its subsidiary, EGCO Engineering and Service Company Limited, to Universal Utility Company Limited (UU), a wholly owned subsidiary of Eastern Water Resources Development and Management Public Company Limited (East Water).

EGCO Group would recognize the immediate earnings from the divestment worth 1,600 million baht upon the approval of the shareholders in the Extraordinary General Meeting of East Water. The transaction would be expected to complete within the 3rd quarter of 2015 and that the proceeds from the transaction would be used for EGCO Group’s future investment and for funding construction projects. Furthermore, as EGCO Group presently holds 18.72% stake in East Water, the Company could indirectly benefit from the future growth of UU due to the proficiency in the tap water business of both East Water and UU.