Month: October 2020

30 October 2020 : The transfer of shares in Group Lease Public Company Limited by Major Shareholder

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Post date October 30, 2020
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The transfer of shares in Group Lease Public Company Limited by Major Shareholder

30 Oct 2020

Group Lease Public Company Limited (“Company”) would like to notify that A.P.F. Holdings Company Limited (“APFH”) has completed the sale of 156,911,191 shares in the Company, representing 10.285% of the total issued shares in the Company. After such transfer of shares, APFH together with Engine Holdings Asia Pte. Ltd. will remain the holder of Company’s shares in an aggregate amount of 403,565,553 shares, representing 26.45% of the total issued shares in the Company. There is no effect on control power of the Company or its business policy including the structure of the Company’s board of directors and executives. In addition, the Company has been informed that the transferees are business partners having long-standing relationship with APFH and have strong desire to hold shares in the Company. APFH further informed that the transferees have expressed their intention to hold the shares in the Company for long term and to give full support to the Company from all possible aspects.

Please be informed accordingly.

Yours sincerely,

Mr. Tatsuya Konoshita
Deputy Chief Executive Officer

SET Announcements

26 October 2020 : Announcement of the Resignation of Audit Committee / Independent Director

Post author By admin
Post date October 26, 2020
1 Comment on 26 October 2020 : Announcement of the Resignation of Audit Committee / Independent Director

Press Releases

15 October 2020 : GL announces leadership reorganization and new CEO, Tatsuya will remain at GL as Deputy CEO and Director

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Post date October 15, 2020
No Comments on 15 October 2020 : GL announces leadership reorganization and new CEO, Tatsuya will remain at GL as Deputy CEO and Director

GL announces leadership reorganization and new CEO, Tatsuya will remain at GL as Deputy CEO and Director

15 Oct 2020

Mr. Tatsuya Konoshita, former Chief Executive Officer of Group Lease Public Company Limited, stated that “I am happy to inform investors that Group Lease will have a new CEO who has been leader in the GL Group in Asia for more than 8 years. As GL moves forward from litigation and focuses more on business operations, GL decided on having a more operationally focused CEO. As such, Riki Ishigami will be the new Chief Executive Officer of Group Lease Public Company Limited. Furthermore, I will remain at Group Lease as one of our Deputy CEOs and focus on investor relations. Kaname Hashimoto is also join me as a Deputy CEO and he will focus on Myanmar and Laos. All of us are already Directors of Group Lease PCL.

Riki Ishigami established GL’s first subsidiary outside of Thailand, GLF in Cambodia, in 2012 and was in charge of GLF ever since. GLF was the first licensed finance company in Cambodia and started with a few employees and no dealerships. Riki drove all across Cambodia, negotiating with dealers and setting up all aspects of the business. He built and managed the business and now GLF has more than 200 dealers and has been the largest leasing company in Cambodia during these last 8 years. Riki was the pioneer of GL’s ‘Digital Finance’ model which, after success in Cambodia, was launched in Laos and Myanmar. Riki’s knowledge and operational know-how will help serve GL Group as we continue to focus more on operational results—both in Thailand and abroad.

Kaname Hashimoto, besides being a Director of GL, is already the Managing Director of three GL subsidiaries: GL-AMMK and BG Microfinance, both in Myanmar, and of GL Leasing in Laos. After successfully launching GL in Laos, Kaname expanded the GL Group to Myanmar focusing on hire purchase for motorcycles and also our newest product, microloans. Kaname will continue to focus his efforts in Myanmar and Laos as well as advise our new CEO on GL Group operations.

Mr. Riki Ishigami, current Chief Executive Officer of Group Lease Public Company Limited, said “this is a leadership reorganization—not a leadership change. Kaname, Tatsuya, and I have all been GL Directors and in key management roles at GL for many years. Due to the change in focus at GL, we have reorganized our leaders in the roles best suited for the Company and the shareholders.”

SET Announcements

14 October 2020 : The Appointment of new Chief Executive Officer, Deputy Chief Executive Officers and amendment of authorized signatories binding upon the Company

Press Releases

08 October 2020 : Court of Appeal of Singapore rules against GLH, liable for damages of roughly US$70 million (approximately THB 2,187 million)

Court of Appeal of Singapore rules against GLH, liable for damages of roughly US$70 million (approximately THB 2,187 million)

08 Oct 2020

Mr. Tatsuya Konoshita, Chief Executive Officer of Group Lease Public Company Limited, stated “In December 2017, JTrust Asia “JTA” filed a civil lawsuit against Group Lease Holdings “GLH” (our Singapore entity) alleging GLH committed torts of deceit and conspiracy to misrepresent the financial position of Group Lease “GL” to entice JTA to invest into GL and seeking around US$230 million or roughly THB 7,183 million in damages. On 12 February 2020, the High Court of Singapore dismissed JTA’s claims against all defendants and ordered JTA to pay the costs of the defendants including GLH.

Yesterday the Court of Appeal of Singapore revised the judgment of the High Court and rendered the decision granting JTA’s claims partially and ruling that GLH and other defendants are jointly and severally liable for damages amounting to around US$70 million or roughly THB 2,187 million, approximately only 30% of what JTA had claimed. The remaining 70% of JTA’s claim (or about US$160 million or roughly THB 5,656 million including damages allegedly concerning second convertible debentures in the amount of US$130 million (approximately THB 4,060 million)) was rejected by the Court of Appeal.

Most of the damages awarded, US$49 million (approximately THB 1,527 million), relate to the US$50 million convertible debentures that was due to JTA in March 2020 but that we, GL, withheld as discussed in a previous press release. Please refer to the link below:

https://investor.grouplease.international/news.html/id/790125/group/home

For this judgement, although we have the ability to repay, we still have ongoing litigation in Thailand including JTA’s appeal of the 5 March 2020 judgement where the Civil Court in Thailand ruled that that JTA’s filing of the rehabilitation petition against GL constituted the tort of abuse of process. That Court ruled that JTA’s actions caused damages and ordered JTA to pay THB 685.5 million to GL. Additionally, on 11 September 2020, GL filed a civil claim against JTA claiming THB 9,130 million in damages for JTA’s continued abuse of legal process in Thailand and other jurisdictions. Please refer to the link below:

https://investor.grouplease.international/news.html/id/798626/group/home

We will continue to fight for our shareholders and protect our business.”

SET Announcements

07 October 2020 : The Decision of the Court of Appeal of the Republic of Singapore regarding litigation between J Trust Asia Pte. Ltd and Group Lease Holdings Pte. Ltd.

SET Announcements

07 October 2020 : The Decision of the Court of Appeal of the Republic of Singapore regarding litigation between J Trust Asia Pte. Ltd and Group Lease Holdings Pte. Ltd. (revised attachment)

SET Announcements

The transfer of shares in Group Lease Public Company Limited by Major Shareholder

GL announces leadership reorganization and new CEO, Tatsuya will remain at GL as Deputy CEO and Director

Court of Appeal of Singapore rules against GLH, liable for damages of roughly US$70 million (approximately THB 2,187 million)

LINK-GL Business group

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