(TRANSLATION)

No. 036/2565

June 10th, 2022

Subject:

Clarification of investment in digital asset per cryptocurrency of Kub Coin

Attention to: President

The Stock Exchange of Thailand (SET)

Reference: Letter of matter "กลต.จท-2. 1220/2565" dated June 2nd, 2022 regarding for Clarification of investment in digital asset per cryptocurrency of Kub Coin

Refer to letter from The Securities and Exchange Commission, Thailand (SEC) requesting the company Saha Pathanapibul PLC. ( " company" ) to clarify the case of investment in digital asset per cryptocurrency of Kub Coin and to disclose this company's clarification via SET's information system.

In this regard, the company would like to clarify the case of investment in digital asset per cryptocurrency of Kub Coin as follows:

  1. The reason why your company invested in digital assets to become a validator node. How is it useful or suitable for your company's business?

Explanation

As Blockchain Technology is a technology of the future with the opportunity to expand into a variety of businesses, such as Supply Chain that is massively involved in our company's business. Company has its servers in its own data center, so it can become a validator node without any additional investment.

In addition, by participating in Blockchain platforms, company is able to look for opportunities to use Blockchain technology to develop future business practices.

  1. Consideration of investment, has this decision been made by company's Board of Directors? What is an opinion of company's Board of Directors on this investment?

Explanation

Due to running a validator node is not an investment rather company used existing facilities to get involve in running a validator node for which doesn't cost much, and does not need to be considered by Board of Directors or Executive Committee.

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However, the company did receive digital asset although company did not intentionally invest, so company needed to amend Clause 3 of Memorandum of Association to support an investment and do business related to digital assets in the future and to comply with the provisions of the law. Board of Directors' meeting considered and approved the amendment of Clause 3 of Memorandum of Association of company and proposed to 2022 Annual General Meeting of Shareholders for consideration and approval on April 25, 2022, in which company successfully registered the amendment of the Memorandum of Association to Department of Business Development, Ministry of Commerce since May 5, 2022.

  1. What is the investment plan, amount of investment, and the current situation? Are there including further conditions, minimum terms of buyback guarantee, and how?

Explanation

Due to the company did not invest in digital asset, but rather company is just a validator node that company receives a fee from running a validator node thus creating a digital asset in the form of KUB Coin. At present, the company does not have any plans to invest in digital assets.

  1. How does the impact of the current drastic drop in coin value affect your company's financial and operating status? And does your company whether have any solution support in this case or not and how?

Explanation

Due to the company did not invest in digital asset, and the benefit that company receives is a fee for running a validator node only, so it has no impact on company's financial and operating status.

Please be informed accordingly.

Best regards, ผาสุข รักษาวงศ์, เวทิต โชควัฒ

นา

(Mrs. Pasook Raksawonkse , Mr. Vathit Chockwatana)

Director

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Saha Pathanapibul pcl published this content on 10 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 June 2022 10:21:03 UTC.