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Rabbit Holdings Public Company Limited Announces Disposal of Ordinary Shares in Diplomat Prague RE s.r.o.

Strategic Insights

— 2 min read

Rabbit Holdings Public Company Limited has made significant announcements regarding the disposal of ordinary shares in Diplomat Prague RE s.r.o. (Diplomat PropCo), a subsidiary of the Company. The Board of Directors approved the disposal of shares to Hotel Diplomat s.r.o. and/or other juristic persons designated by the purchaser, but the transaction could not be completed due to circumstances. Subsequently, the Board resolved to approve the disposal of shares to PPF Real Estate s.r.o. and/or other juristic persons designated by the purchaser, with a total selling price of EUR 73.0 million. This transaction aims to transfer the ownership of the hotel "Vienna House(r) by Wyndham Diplomat Prague" in the Czech Republic. The disposal transaction is expected to be completed by the quarter 1/2026.

Key Takeaways:

  • The Company resolved to approve the disposal of ordinary shares in Diplomat PropCo to PPF Real Estate s.r.o. for a total selling price of EUR 73.0 million.
  • The significant asset in question is the hotel "Vienna House(r) by Wyndham Diplomat Prague" in Prague, comprising 400 guest rooms.
  • The transaction size is within the permissible limit of 4.33 percent, calculated based on the aggregate consideration criteria.
  • The Purchaser has no relationship with the Company, and the transaction does not constitute a connected transaction.
  • The disposal transaction is expected to be completed by the quarter 1/2026 upon execution of the Framework Agreement on the Terms and Conditions of the Transfer of Share.
  • The transaction does not fall within the scope of a transaction required to be disclosed pursuant to the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisitions and Dispositions.

Statistics:

  • Total selling price for the disposal of ordinary shares in Diplomat PropCo: EUR 73.0 million (or approximately THB 2,691,064,700)
  • Number of guest rooms in the hotel "Vienna House(r) by Wyndham Diplomat Prague": 400
  • Transaction size: 4.33 percent of the Company's latest consolidated financial statements for the accounting period ended 30 June 2025
  • Net tangible assets value used for calculating the transaction size: exceeds half of the total assets of the Company
  • Value of the net tangible assets (NTA) of the Company: was not provided
  • The value of the transaction exceeding half of total assets of the company was 6.69% on a aggregate NTA basis.

Sources:

  • Stock Exchange of Thailand, Company Announcement: Rabbit Holdings Public Company Limited (August 14, 2025)
  • Bank of Thailand, Exchange Rate Announcement (August 13, 2025)
  • Bank of Thailand, Exchange Rate Announcement (September 10, 2025)
  • Notification of the Capital Market Supervisory Board No. TorJor. 21/2551 Re: Rules on Connected Transactions
  • Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisitions and Dispositions
  • Notification of the Capital Market Supervisory Board No. TorChor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets

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