CORNERSTONE TEC's Associate Company Spark Plans Acquisition of Six Charging Sites in Thailand

Stock News05-07

CORNERSTONE TECHNOLOGY HOLDINGS (08391) announced that its associate company, Spark EV Company Limited (Spark), has signed its first term sheet for an acquisition. Under this agreement, Spark will acquire six charging locations, comprising a total of 24 charging points (each with a power of 60kW), from the local Thai electric vehicle (EV) charging network operator E-cocharge Solutions Co., Ltd (Eco-Flash). Eco-Flash specializes in fast DC charging solutions, with its portfolio primarily located in urban parking lots of community malls within the Bangkok metropolitan area. This transaction represents Spark's first acquisition in Thailand. The Group remains committed to its long-term vision of establishing a comprehensive network of 1,000 EV charging stations in Thailand. Spark will continue to actively seek additional acquisition targets and strategic partners to accelerate this deployment and strengthen the Group's position as a leading EV charging service provider in the ASEAN region.

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