PACE ANNOUNCES PLAN FOR RECAPITALIZATION
8 November 2017
The Board of Directors of Pace Development Corporation Plc. (PACE) announced today the plan to recapitalize for the purpose of reducing debt and interest expense, and for sustainable future business expansion. This will be achieved through selling 2 residential projects and increasing capital through a Rights Offering (RO) of THB 3.758 billion. Money raised will be used to reduce debt, while the firm will retain the benefits of recurring income from DEAN & DELUCA’s growth as well as MahaNakhon Observatory.