Buriram Sugar Public : Invitation Letter of the 2022 Annual General Meeting of Shareholders

2022 Annual General Meeting of Shareholders

Buriram Sugar Public Company Limited

Wednesday 27th April 2022 at 10.00 hrs. (Registration 8.00 hrs.)

through Electronic Media (E-AGM)

according to the Emergency Decree on Electronic Meeting B.E. 2563

Convene the meeting through electronic media (E-AGM) only

Attend in person:

Shareholders will be able to register through the system from 8 April 2022 at 9.00 a.m. onwards

Attend by proxy (Recommend to grant proxy to Independent Director)

Shareholder shall submit the registration documents to the Company within Wednesday 20 April 2022 via the following channels

• 1. E-mail:[e-mail]

• 2. Post: Attn: Company Secretary, Director Office

Buriram Sugar Public Company Limited

128/77-78 Phayathai Plaza Building 7th Fl., Phayathai Road, Thung Phayathai, Ratchathewi, Bangkok 10400

No. BRR2 2022/008

March 28th, 2022

Subject:Invitation to the 2022 Annual General Meeting of Shareholders

To:

Shareholders of Buriram Sugar Public Company LimitedAttachment

1. Copy of the minutes of the 2021 Annual General Meeting of Shareholders held on April 29th, 2021 (For consideration of agenda 1)

2.

2021 Annual Report ( Digital File) in the form of QR Code including consolidated statements of financial position, profit/ loss financial statements and statement of comprehensive income 2021 (For consideration of agenda 2 and 3)

• 3. Profiles of the directors proposed for re- election in replacement of the directors retired by rotation (For consideration of agenda 5)

• 4. Scope of duties of the Board of Directors and definition of the independent directors (For consideration of agenda 5)

• 5. Profile of the newly appointed auditor (For consideration of agenda 7)

• 6. Comparison table for amendment to the Company's articles of association (For consideration of agenda 8)

• 7. Company's articles of association concerning to the shareholders' meeting

• 8. Guidelines of the 2022 Annual General Meeting of Shareholders

  • • Necessary documents and evidences for meeting attendance

  • • Proxy authorization and method of proxy authorization

  • • Voting procedures and votes counting

• 9. Procedures to attend the 2022 Annual General Meeting of Shareholders

• 10. Profiles of the proxy independent directors

• 11. Proxy form A, B and C. (Attachment No.11.1, 11.2 and 11.3 respectively)

• 12. Registration Form for attending the Annual General Meeting of Shareholders through Electronic Media (E-AGM)

• 13. Requisition form for a printed copy of 2021 Annual Report

• 14. Privacy Notice

The Board of Directors' Meeting No. 1/2022 of Buriram Sugar Public Company Limited which was held on February 24, 2022 had the resolution to convene the 2022 Annual General Meeting of Shareholders ("AGM") on Wednesday 27 April 2022, at 10.00 A.M. (Registration at 08.00-10.00 A.M.) via electronics meeting (E-AGM) only in accordance with the criteria specified in the laws on electronic meeting at Arnoma 2-3 Room, 3rd Floor, Arnoma Hotel Bangkok, which is located at 99 Ratchadamri Road, Pathumwan, Bangkok 10330 to consider the following agenda.

Agenda 1

To certify the Minutes of the 2021 Annual General Meeting of Shareholders held on Thursday 29 April, 2021

Facts and Rationale: The minutes of 2021 Annual General Meeting of Shareholders which was held on Thursday 29 April, 2021 was completed within 14 days since the meeting date and submitted to the Stock Exchange of Thailand ("SET") and Ministry of Commerce within legally required period. (Attachment No.1).

Board of Directors' Opinion: The Board of Directors found that the minutes of 2021 Annual General Meeting of Shareholders had correctly been stated. Thus, The Board of Directors agrees to propose to the 2022 Annual General Meeting of Shareholders to consider and approve the mentioned minutes. The copy of the minutes can be found in Attachment No.1.

Required Voting: The majority of votes cast by shareholders attending the meeting and casting vote would be deemed as a resolution.

Agenda 2

To acknowledge the report on the company' s operating results for the year 2021

Facts and Rationale: The Company summarized the performance and importance changes of the year 2021 that are disclosed in the 2021 annual report in the form of QR code as Attachment No.2

Board of Directors' Opinion: The Board of Directors found that it appropriates for the meeting to acknowledge the operating results in 2021.

Required Voting: Voting for this agenda is not required.

Agenda 3

To certify and approve the audited financial statements for the year ended on December 31, 2021

Facts and Rationale: The Board of Directors has provided financial statement of the company for the year ended on December 31, 2021 which has been audited by the certified public accountant to propose to the 2022 Annual General Meeting of Shareholders to consider and approve in conformance with the Section 112 of Public Company Limited Act, B.E. 2535 (Attachment No.2).

Board of Directors' Opinion: The Board of Directors found that it appropriates for the meeting to consider and approve the financial statements of the company for the year ended on December 31, 2021 which has been audited by the certified public accountant of PricewaterhouseCoopers ABAS Ltd . and approved by the Audit Committee. The summary of the Company's financial statements are stated in the next page.

Required Voting: The majority of votes cast by shareholders attending the meeting and casting vote would be deemed as a resolution.

Financial Statements

Percent
Assets
Current Assets
Cash and Deposits with financial institutions	40.61	0.43	60.42	0.70	69.00	0.76
Trade receivables - net	388.69	4.12	131.09	1.51	317.85	3.51
Farmer receivables - net	210.62	2.23	366.58	4.23	442.26	4.88
Accrued revenue - Office of Cane and Sugar
325.52	3.45	300.84	3.47	-	-
Fund
Inventories	911.95	9.67	568.44	6.56	1,332.63	14.71
Current portion of long-term borrowings to
127.43	1.35	38.25	0.44	41.56	0.46
farmers
Other current assets	65.31	0.69	25.79	0.30	20.95	0.23
Total current assets	2,070.13	21.95	1,491.41	17.22	2,224.25	24.56
Non-current assets
Farmer non-current receivables	31.12	0.33	117.24	1.35	104.77	1.16
Non-current accrued revenue- Office of Cane
158.76	1.68	170.20	1.96	-	-
and Sugar Fund
Other long-term investments - net	1.41	0.01	-	-	-	-
Investment in an associate	1,111.34	11.79	1,004.93	11.60	1,089.64	12.03
Financial assets measured at fair value through
-	-	11.41	0.13	14.00	0.15
Other comprehensive income
Long-term borrowings to farmers - net	193.26	2.05	145.24	1.68	106.97	1.18
Real estate investment	3.97	0.04	3.97	0.05	4.49	0.05
Property, plant and equipment - net	5,674.84	60.18	5,532.25	63.86	5,339.40	58.95
Right - of-use assets, net	-	-	13.88	0.16	10.13	0.11
Intangible assets - net	31.06	0.33	27.25	0.31	24.15	0.27
Deferred tax assets - net	126.61	1.34	128.15	1.48	118.18	1.30
Other non-current assets	26.75	0.28	17.31	0.20	21.01	0.23
Total non-current assets	7,359.12	78.05	7,171.82	82.78	6,832.73	75.44
Total assets	9,429.25	100.00	8,663.23	100.00	9,056.98	100.00
3

Unit: Million Baht

As at December 31

2019 (Consolidated)

Amount

2020 (Consolidated)

Amount

Percent

2021 (Consolidated)

Amount

Percent

Unit: Million Baht

Liabilities and equity Current liabilities Bank overdrafts

As at December 31

2019 (Consolidated)

Amount

Trade and other payables

Short-term borrowings from financial institutions

Short-term borrowings from others

Current portion of long-term borrowings from financial institutions due within 1 year Current portion of long-term borrowings from an associate due within 1 year

- 839.19

2,611.88

-295.99

211.24

Current portion of hire-purchase liabilities due within 1 year

Debentures

Long-term borrowings from financial institutions

Current portion of lease liabilities due within 1 year

Current portion of employee benefit obligations due within 1 year

Income tax payable Other current assets

7.18

- --

8.04

Total current liabilities Non-current liabilities

Amount

- 8.90 27.70

-3.14

2.24

0.08

- -

2020 (Consolidated)

Amount

- 674.59 758.87

349.36 261.25

223.57

-- --4.67 9.83 3,988.02

Long-term borrowings from financial institutions and other, net

Long-term borrowings from an associate - net due within 1 year

Long-term borrowings from a subsidiary - net due within 1 year

Hire-purchase liabilities - net due within 1 year Lease liabilities, net

Deferred tax liabilities - net Debentures

Retirement benefit obligations - net Other non-current liabilities

488.47

3,024.41

-8.67

Total non-current liabilities

Total liabilities

- 56.74 - 3,578.30 7,566.32

0.05 0.10

7.25

16.37 15.53

42.29

32.07

-

2,313.46

2,918.13

-Amount

- 7.79 8.76

4.03 3.02

2.58

-- -0.08

0.19 0.18

26.70

33.68

-

- 13.51 29.89

0.09

- 0.60 - 37.95 80.24

- 59.17 3.12 4,493.94 6,807.40

- 0.16 0.35

- 0.68 0.04 51.87 78.58

2021 (Consolidated)

Amount

Amount

1,621.90

884.41

9.76 17.91

0.00

-346.33

3.82

262.68

2.90

-

-- -- -4.90

0.05

6.90

3.57 69.46

3,200.15

1,142.18

2,669.51

29.47

19.98

0.00 55.76 6.82 3,919.41 7,119.56

- 6.75 18.41

- 0.07 0.20

- 0.62 0.08 43.28 78.61

0.04 0.77

35.33

0.22