Company Milestone
Later in 2013, the Company restructured its shareholding to be held by Dr. Trinnawat Thanitnithiphan at 94.90% of the Company's paid-up capital. Dr. Trinnawat Thanitnithiphan had the vision to present innovations that are new alternatives in the prevention and treatment of diseases in people; therefore, he came to manage the Company, which was the beginning of the business expansion of nutraceuticals and health products under the trademark "INTERPHARMA". It began with health and anti-aging products sold to hospitals and clinics, which had become more popular and known, especially the Probac 7 and Probac 10 Plus products, which were synbiotic products helping balance a good excretory system and building the immune system, the beginning of good health from the inside out. After that, the Company expanded into a group of innovative beauty products (Aesthetic Innovation). Then, catching the growing trends of dogs and cats, it expanded to pet products that offered pharmaceuticals, cosmeceuticals, nutraceuticals, and pet health food.
In this regard, with the current trend of food safety awareness, the Company expanded its business to include livestock products and introduced new products. The Company's operating results have steadily improved due to its focus on food safety. In addition, the Company does not stop developing new products and innovations regularly so that the products sold are unique and different from other products in the market.
Developments of the Company over the past 5 years can be summarized as follows:
2018
2019
2020
2021
2022
- The Company launched 2 branded products, namely YUUU Probiotic Premium Cleansing Mousse, a probiotic facial product to reduce inflammation, moisturize the skin, help eliminate and reduce the growth of bacteria causing disease, and YUUU Advance Probiotic & Pine Needle Toothpaste, an integrated oral care toothpaste to help balance overall oral health for strong gums and teeth, reduce the accumulation of pathogenic bacteria, and help suppress bad breath to give you a fresher breath.
- On March 19, 2018, the establishment of Inter Petrina Co., Ltd. ("Inter Petrina") was registered with a registered capital of 4 million Baht. It is a joint venture between the Company and Asian Group Service Co., Ltd., a subsidiary of the Asian Seafoods Coldstorage Public Company Limited , in which the Company holds 60% of the shares, and Asian Group Service Co., Ltd., holds 40% of Inter Petrina's registered capital to operate a business selling pet food products by focusing on the pet food market in the country through distribution channels that the Company has expertise in, including hospitals and pet clinics, pet shops, modern retail or modern trade, and various online channels. It has been positioned in the premium pet food market to meet the lifestyle of pet lovers requiring special health and safety attention.
- In this regard, on May 18, 2018, there was a joint venture agreement between the Company and Asian Group Services Co., Ltd. to determine the conditions and agreements for conducting business in Inter Petrina. The details of the essence of the said contract can be considered under the topic of assets used in business operations, in the joint venture agreement subsection.
- On April 30, 2018, the 2018 Annual General Meeting of Shareholders of the Company resolved to approve the capital increase from 40 million Baht to 65 million Baht by issuing 250,000 additional ordinary shares at a par value of 100 Baht per share, offered for sale to the existing shareholders of the Company at the price of 100 Baht per share. The Company registered a new paid-up capital with the Department of Business Development, Ministry of Commerce, on May 15, 2018. The Company used the proceeds from the capital increase as working capital for the Company's business operations.
- In such a capital increase, Dr. Songwuth Sakchalathorn (the name later changed to Dr. Trinnawat Thanitnithiphan) bought the newly issued shares lower than the rights granted to the shares allocated. As a result, Dr. Trinnawat Thanitnithiphan had the Company's shareholding proportion decreased to 65.81% of the Company's paid-up capital after the capital increase. Currently, Dr. Trinnawat Thanitnithiphan is the only shareholder holding the position of director of the Company. None of the other shareholders holds shares equal to or greater than 10% and involves in the management of the Company.
- In addition, the aforementioned shareholders meeting resolved to pay dividends from the net profit for the year 2017, after deducting legal reserves from retained earnings, to shareholders at the rate of 70 Baht per share, totaling 28 million Baht, and allocate profit as a legal reserve in the amount of 1.5 million Baht, with the dividend payment scheduled for May 7, 2018.
- In May 2018, Inter Petrina launched dog and cat food products under the brand "MARIA," developed by veterinarians and nutritionists on the concept of "Authentic Pet Food." The products are made from real meat of the same grade as human food production with preservative-free, contain prebiotics that help take care of the digestive system by providing nutrients, enhance the function of the immune system, and free from flour, corn, wheat, and soy (grain-free) suitable for dogs and cats who are allergic to grain foods.
- On April 18, 2019, the Annual General Meeting of Shareholders of the Company for the year 2019 resolved to approve dividend payment from retained earnings after deducting legal reserves to shareholders at the rate of 17.80 Baht per share, totaling 11.57 million Baht, and allocate profits as legal reserves in the amount of 0.67 million Baht. The dividend payment is scheduled for April 19, 2019. It also passed a resolution approving the capital increase from 65 million Baht to 80 million Baht by issuing 150,000 additional ordinary shares with a par value of 100 Baht per share offered to the existing shareholders of the Company in proportion to their shareholding at the price of 100 Baht per share. The Company registered a new paid-up capital with the Department of Business Development, Ministry of Commerce, on April 24, 2019. The Company used the proceeds from the capital increase as working capital for the Company's business operations.
- On May 7, 2019, the Extraordinary General Meeting of Shareholders No. 1/2019 resolved to approve the conversion of the Company from a Limited Company to a Public Limited Company under the name "Inter Pharma Public Company Limited." The change in the par value of the Company's shares from 100 Baht per share to 0.50 Baht per share and an increase in the registered capital of the Company by 23 million Baht from the registered capital of 80 million Baht to the registered capital of 103 million Baht were achieved by issuing 46 million new ordinary shares with a par value of 0.50 Baht per share. The offering was divided into: (1) 39.1 million newly issued ordinary shares offered to the public; and (2) 6.9 million newly issued ordinary shares offered to directors, executives, and/or employees of the Company and its subsidiaries at the same price as the price offered to the public. This included bringing the ordinary shares of the Company to be listed on the Market for Alternative Investment (MAI), where the Company had registered the conversion, changing the par value, and new registered capital to the Department of Business Development Ministry of Commerce on May 15, 2019.
- On September 19, 2019, the Securities and Exchange Commission allowed the Company to offer newly issued shares to the public.
- On October 28 – 30, 2019, the Company offered the Company's newly issued ordinary shares to the Initial Public Offering (IPO) in the amount of 46,000,000 shares. The offering price was 7 Baht per share, amounting to 322,000,000 Baht. After deducting the cost of the offering, the remaining amount was 304,482,430 million Baht. The Company used the proceeds from the capital increase to repay short-term loans and as working capital.
- On November 1, 2019, the Company registered the capital increase with the Department of Business Development, Ministry of Commerce, at 103,000,000 Baht, divided into 206,000,000 shares at a par price of 0.50 Baht.
- On November 5, 2019, the Company's ordinary shares became listed securities and began trading for the first time on the Market for Alternative Investment (MAI) in the industrial sector and consumer products with the symbol "IP."
- At the beginning of the year 2020, there was an epidemic of the novel coronavirus 2019 (COVID-19) in Thailand and around the world. The spread of COVID-19 resulted in a slowdown in the economy and had an impact on businesses and industries as a whole. In the aforementioned situation, the Company launched new products, namely face masks made from nanofibers and natural bamboo fibers and hand sanitizer in the form of tubes and sachets for sale to customers.
- On April 1, 2020, the Annual General Meeting of Shareholders for the year 2020 resolved to approve the dividend payment from the net profit for the year 2019 after deducting legal reserves to shareholders at the rate of 0.185 Baht per share, totaling 38.11 million Baht, and allocate profit as a legal reserve in the amount of 2.10 million Baht. The Company determined the names of shareholders who were entitled to receive dividends according to the names appearing in the shareholder register book as of April 9, 2020. The dividend payment was scheduled within 30 days from the resolution of the Annual General Meeting of Shareholders. The Company paid dividends on April 27, 2020.
- On August 6, 2020, the Extraordinary General Meeting of Shareholders No. 1/2020 resolved to approve the issuance of debentures in an amount not exceeding 300 million Baht. However, the total debt burden at any time must not exceed 460 million Baht for the purpose of repaying the existing loan debt and/or used for operations, business expansion, working capital, or other purposes as the Board of Directors deemed appropriate.
- Probac products and YUUU toothpaste products were the No. 1 best-selling products from LAB Pharmacy.
- On July 17, 2020, the Board of Directors Meeting No. 5/2020 resolved to approve the sale of investments in the Company's ordinary shares for 6.25 million Baht to the existing shareholders of the Company from Inter Stemma Co., Ltd.
- Dr. Songwuth Sakchalathorn changed his name and surname to Dr. Trinnawat Thanitnithiphan on September 23, 2020.
- New products included PROBIOTA BL, PROIMMO, VITAMUNE, MOUTH SPRAY, and YUUU HONEY BEE PROPOLIS NATURAL MOUTH SPRAY.
- The Company acquired Modern Pharma Co., Ltd. in November 2020 for 295 million Baht.
- On January 7, 2021, the Company established a joint venture company named "Interpharma-Zeavita Co., Ltd." with the objective of research and development, production, and distribution of health products. The Company's registered capital was 20 million Baht, of which the Company held 60 % and Thai Union Ingredients Co., Ltd. held 40 %.
- On February 8, 2021, the Board of Directors approved the acquisition of assets by purchasing 20 rai of land, a pharmaceutical and machinery factory, and 4 drug registrations worth 160 million Baht from Teva Farma (Thailand) Co., Ltd..
- On April 26, 2021, the Annual General Meeting of Shareholders for the year 2021 resolved to approve the allocation of profit as a legal reserve in the amount of 2.56 million Baht and the dividend payment for the year 2020 performance to shareholders in the amount of 46.02 million Baht at the rate of 0.2234 Baht per share. The dividends were paid in the form of ordinary shares and cash as follows:
- Cash dividend were paid at the rate of 0.0234 Baht per share, totaling 4,820,400 Baht.
- Dividend were paid in the form of ordinary shares of the Company in the amount of 82,400,000 shares with a par value of 0.50 Baht per share to shareholders at the rate of 2.5 existing shares per 1 stock dividend, totaling 41,200,000 Baht, representing a dividend payment of ordinary shares at the rate of 0.20 Baht per share. In the event that there is a fraction, the Company would pay cash dividends instead of stock dividends at the rate of 0.20 Baht per share.
- On May 19, 2021, the Company signed an academic cooperation agreement between Prince of Songkla University (PSU) and the Company to further develop research and study related to kratom and kratom extracts to standardize production and use for use as food supplements, nutritional therapy, medicine, and various health products. This memorandum of agreement is effective for a period of 5 years, until May 2026.
- On July 14, 2021, the Extraordinary General Meeting of Shareholders No. 1/2021 resolved to approve important matters as follows:
- Approved the amendment to Article 31 of the Articles of Association regarding the meeting of the Board of Directors via electronic media to comply with the current changing laws.
- Approved the issuance and offering of the Company's newly issued ordinary shares to existing shareholders in proportion to the number of shares held by each shareholder (Rights Offering) in the amount of not more than 9,613,320 shares at an allocation ratio of 30 existing ordinary shares per 1 share of capital increase ordinary shares with an offering price of 20 Baht per share. The date for determining the names of shareholders who are entitled to the allocation and offering of the newly issued ordinary shares with warrants IP-W1 (Record Date) was set on July 21, 2021. The subscription and payment dates for newly issued ordinary shares were scheduled for August 9, 2021, and August 13, 2021.
- Approved the issuance and allocation of warrants to purchase ordinary shares of Company No. 1 ("IP-W1") to be allocated to the existing shareholders of the Company who subscribed for and paid for the newly issued ordinary shares in proportion to their shareholding but not more than 19,226,640 units, free of charge.
- Approved the increase of the Company's registered capital under a general mandate in the amount of not more than 38,839,959 shares at the par value of 0.50 Baht per share, with the details of the allocation as follows:
- Allocate newly issued ordinary shares in the amount of not more than 10,000,000 shares at a par value of 0.50 Baht per share, representing not more than 3.47 % of the paid-up capital to be offered to the existing shareholders of the Company in proportion to their shareholding (Right Offering); or
- Allocate newly issued ordinary shares in the amount of not more than 28,839,959 shares at the par value of 0.50 Baht per share, representing not more than 10 % of the paid-up capital for offering to private placement.
- Approved the increase of the Company's registered capital in the amount of 33,839,959.50 Baht from the original registered capital of 144,199,795.50 Baht to the new registered capital of 178,039,755 Baht by issuing up to 67,679,919 newly issued ordinary shares with a par value of 0.50 Baht per share.
- From August 9 - 16, 2021, the Company issued and offered new ordinary shares to the existing shareholders of the Company in proportion to their shareholding (Right Offering) in the amount of 9,610,933 shares, amounting to 192,218,660 Baht.
- On August 26, 2021, the Company registered an increase in paid-up capital from the original 144,199,795.50 Baht to 149,005,262 Baht with the Department of Business Development, Ministry of Commerce.
- On September 7, 2021, the Company signed a memorandum of understanding with R&B Food Supply Plc. regarding research, development, and production extension related to hemp and cannabis products as permitted by applicable laws. This memorandum of agreement was effective for a period of 1 year from the date of its signing.
- On October 1, 2021, the Company issued warrants to purchase ordinary shares of the Company No. 1 ("IP-W1") to existing shareholders of the Company who subscribed for and paid for newly issued ordinary shares in proportion to their holdings of 19,221,866 shares.
- The Board of Directors Meeting No. 7/2021, held on November 9, 2021, resolved to approve Inter Pharmacy Co., Ltd. (a subsidiary that is in the process of registering) to invest by purchasing shares of Drug Care Co., Ltd. ("Drug Care") in the proportion of 88.67 % of the issued and paid-up capital of Drugcare. It aimed to expand the business operations of the Company so that it can operate more comprehensively. The Company expected to be able to pay and transfer shares of drug care (closing date) within the first quarter of 2022.
- On December 7, 2021, the Company entered into a preliminary memorandum of agreement with Inno Hub Co., Ltd., a subsidiary of One To One Contacts Public Company Limited, which operates in software research and development and provides digital innovation development services ("Joint Venture"). The objective of establishing a joint venture company was to jointly invest in the business of distributing health products, including online pharmacist consulting ("Telepharmacy Business"). The Company would hold 50 % of the shares in the joint venture company. ("Joint Venture Company")
- In 2021, the Company launched a total of 6 new products, as follows:
- Probac FIT 2 sku : Synbiotics for weight control
- Bravo FIT 10 capsules : Holistic health for men
- Wonder FIT 30 capsules : Holistic health for women, reducing menstrual pain and menopausal symptoms
- TS6 10 sachets (For skin) : Synbiotics for skin
- Probac Ultra Collagen 30 sachets : Collagen mixed with synbiotics for skin and reducing wrinkles.
- Protein Fit x2 10 sachets : Plant-based protein for weight control and building muscle mass
- On April 1, 2022, the Company registered the establishment of a new subsidiary, Inter Pharmacy Co., Ltd., with a registered capital of 315,000,000 Baht. The objective was to operate and/or invest in new businesses within the Company Group.
- On April 8, 2022, Inter Pharmacy Co., Ltd. completed the payment of shares to the existing shareholders of Drug Care Co., Ltd.
- On July 1, 2022, the chief finance officer (CFO) was changed from Ms. Supaporn Rekpitakpanich to Mrs. Nattarin Polpuech.
- On July 20, 2022, the Extraordinary General Meeting of Shareholders No. 1/2022 resolved to approve important matters as follows:
- Approved the reduction of the registered capital of the Company by 19,423,560 Baht from the registered capital of 178,039,755 Baht to 158,616,195 Baht by canceling 38,847,120 unsold ordinary shares at a par value of 0.50 Baht per share, which was the remaining ordinary shares from the allocation to the existing shareholders of the Company in proportion to their shareholding (Rights Offering), amounting to 2,387 shares and the remaining from the reserve for the exercise of the warrants to purchase ordinary shares of Company No. 1 (IP-W1) in the amount of 4,774 shares and the reserve shares for the exercise of the capital increase under a general mandate in the amount of 38,839,959 shares.
- Approved the issuance and offering of not more than 74,510,000 newly issued ordinary shares for private placement to Innobic LL Holding Co., Ltd. ("INNOBIC LL") (which is an indirect subsidiary of PTT Public Company Limited ("PTT"), in which PTT indirectly held 100% of shares through a subsidiary), in which INNOBIC LL would hold shares in the Company in the proportion of 20% of the registered capital after the capital increase.
- Approved the increase of the registered capital of the Company under its general mandate in the amount of not more than 38,839,959 shares at a par value of 0.50 Baht per share.
- Approved the increase of the Company's registered capital in the amount of 57,602,430.50 Baht from the original registered capital of 158,616,195 Baht to the registered capital of 216,218,625.50 Baht by issuing 115,204,861 new ordinary shares at a par value of 0.50 Baht per share to be allocated to specific persons (private placement) in the amount of 74,510,000 shares with additional reserve for the right adjustment of warrants to purchase ordinary shares of Company No. 1 (IP-W1) in the amount of 1,854,902 shares and the reserve for the capital increase under the general mandate in the amount of 38,839,959 shares.
- Approved to increase the number of directors from 7 to 10 in line with the Company's business expansion. Approved the appointment of 3 new directors which were Mrs. Apimon Posri, Mrs. Nattarin Polpuech, and Ms. Chompunuch Meevang.
- On August 9, 2022, the Board of Directors Meeting No. 8/2022 resolved to approve important matters as follows:
- The date of issuance and offering of shares to specific persons (private placement) was determined, namely Innobic LL Holding Co., Ltd., in the amount of 74,510,000 shares. The period for subscription and payment of newly issued ordinary shares was August 10, 2022, at a price of 14 Baht per share, totaling 1,043.14 million Baht.
- Adjusted the rights of IP-W1 as a result of the Company's offering of newly issued ordinary shares to a private placement at a price lower than 90% of the market price as follows:
- The right exercise price (Baht: share) was adjusted from 25 Baht per share to 23.915 Baht.
- The right exercise ratio was adjusted from 1:1 to 1:1.045.
- Mr. Terdkiat Prommool and Dr. Nat Ativitavas were appointed as directors in place of Ms. Supaporn Rerkpitakpanich and Ms. Chompunuch Meevang, respectively.
- The change in the director's authority was as follows:
Originally, "Mr. Trinnawat Thanitnithiphan shall sign with Ms. Napaporn Dechakarat or Ms. Supaporn Rerkpitakpanich, a total of two persons, and affix the Company's seal,"
Amended to "Mr. Trinnawat Thanitnithiphan shall sign with Ms. Napaporn Dechakarat or Mrs. Apimon Posri or Mrs. Nattharin Pholpuech, a total of two persons, and affix the Company's seal."
- On August 10, 2022, the Company registered an additional paid-up capital of 37,255,000 Baht, resulting in a paid-up capital of 186,260,262 Baht.
- On October 1, 2022, the Company registered for the establishment of a new subsidiary, Inter Wellness Co., Ltd., with a registered capital of 1,000,000 Baht, with the objective of operating and/or investing in new businesses of the Company Group.
- On November 2, 2022, the Board of Directors Meeting No. 8/2022 resolved to approve important matters as follows:
- It approved Inter Wellness Co., Ltd., a subsidiary of the Company, to invest by acquiring shares of Nakhon Patana Co., Ltd. ("Nakhon Patana") in the proportion of 50% of the issued and paid-up capital of Nakhon Patana. Nakhon Patana which operates a 59-bed hospital business located in Nakhon Si Thammarat Province.
- It approved an increase in the registered capital of Inter Wellness Co., Ltd. (Inter Wellness), a wholly-owned subsidiary of the Company, in the amount of 429 million Baht from the original registered capital of 1 million Baht to 430 million Baht, divided into 4,300,000 ordinary shares with a par value of 100 Baht per share. The objective is to increase capital to invest by buying shares of Nakhon Patana Co., Ltd. in the amount of 400 million Baht and working capital of Inter Wellness Co., Ltd. in the amount of 30 million Baht.
- On November 16, 2022, Inter Wellness Co., Ltd. completed the payment of shares to the existing shareholders of Nakhon Patana Co., Ltd..