Prime Road Power Public Company Limited Faces Dispute over Solar Power Plant Project in Taiwan

Prime Road Power Public Company Limited, a Thai energy company, is facing a dispute over the disposal of ordinary shares in subsidiaries' solar power plant projects in Taiwan. The company, Prime Solar Energy Corporation, entered into a share purchase agreement with Jiayu Energy Co., Ltd. but has yet to receive the second installment payment from the buyer. Despite sending three formal letters demanding compliance, the company has received no response from the buyer, and the situation is progressing towards legal action.

Key Takeaways:

• Prime Road Power Public Company Limited is facing a dispute over the disposal of ordinary shares in subsidiaries' solar power plant projects in Taiwan.
• The company, Prime Solar Energy Corporation, entered into a share purchase agreement with Jiayu Energy Co., Ltd. on an undisclosed date, but has yet to receive the second installment payment from the buyer.
• Despite sending three formal letters demanding compliance, the company has received no response from the buyer.
• The company appointed a law firm in Taiwan on July 16, 2025, to prepare a draft of the legal complaint and submit it to the court for further judicial proceedings.
• The company's internal auditor has reviewed the investment disposal process and identified certain areas requiring improvement.
• The company is currently reviewing and implementing corrective actions to strengthen its internal control and risk management system.

Statistics:

• 7 companies involved in the disposal of ordinary shares in subsidiaries solar power plant projects in Taiwan.
• The company has sent three formal letters demanding compliance with the share purchase agreement on March 14, 2025, April 9, 2025, and June 27, 2025.
• The company appointed a law firm in Taiwan on July 16, 2025, to prepare a draft of the legal complaint.
• The audit report on the investment disposal process identified areas requiring improvement, which has led to the implementation of corrective actions.

Sources:

• A company announcement by Prime Road Power Public Company Limited, referenced on the Stock Exchange of Thailand website, dated April 3, 2025.