increasing of market share for the company in order to achieve its business goals and this will reduce risk of investing in large projects. It is also a good opportunity to continue to work with other business

the customers and recognize continuously the revenues as planned whereby reduce further its debts by repaying these to the financial institutions, the debt to equity ratio may decrease further by year

continuously the revenues as planned whereby reduce further its debts by repaying these to the financial institutions, the debt to equity ratio may decrease further by year end 2017. 7 2017 MD&A: PACE

balance sheet and access to liquidity to weather market disturbances. We have continued to reduce our debt and our leverage position is very strong with Interest Bearing Debt to Equity of 0.4 times. Finally

Price”). The Private Placement Offering Price is at the same price as the Right Offering price, but lower than the Market Price, and also lower than the fully diluted price (the average share price

reduce financing cost. 3. Potential Impact from the Share Offering 3.1 Price Dilution = Market price before the offering – Market price after the offering Market price before the offering = = 3.45 3.2

offer does not exceed Baht 350,000,000. This share offer will be made to public investors who are not connected persons of the Company, as prescribed in the Notification of Capital Market Supervisory

Company’s competitiveness and to expand the development of the project together with increasing of market share for the company in order to achieve its business goals and this will reduce risk of investing in

high volume of Palm oil in the market. However, the company remained Adjusted EBITDA of Baht 660 million in quarter 1/2016, increased from quarter 2/2016 Adjusted EBITDA of Baht 323 million and increased

cash for the benefit of this ongoing business, to repay long-term loans from financial institutions and loans from a connected person, reduce interest expenses and to pay office rent. Whereas the rest