price of the private placement to PLANB is lower than the fair value estimated by IFA at 1.4768-1.9120 baht per share based on the-sum-of-the-part calculation of the total value of each business unit

summary as follows:- Management Discussion and Analysis For the Three-month and Six-month Periods Ended 30 June, 201" Page 4 Unit : Million Baht Statement of Financial Position Dec 31, 2017 Jan 1, 2017

Discussion and Analysis For the Three-month and Nine-month Periods Ended 30 September, 201# Page 2 Unit : Million Baht Statement of Financial Position Dec 31, 2017 Jan 1, 2017 Assets Total Assets - Previously

assistance Approved the renewal of a loan of 100 million baht with Mr.Boonsithi Chokwatana To Managing Director The Stock Exchange of Thailand According to the Board of Director Meeting of Pan Asia Footwear

(-Translation-) Ref. No. SorNor. 24/2019 February 13, 2019 To: The President The Stock Exchange of Thailand Re: Disclosure of Information regarding Connected Transaction by Subsidiary Whereas, the

financial assistance Approved the renewal of a loan of 60 million baht with Mr.Boonsithi Chokwatana To Managing Director The Stock Exchange of Thailand According to the Board of Director Meeting of Pan Asia

Public Company Limited To President The Stock Exchange of Thailand Reference GPSC’s letter No. 10040000/021/58 dated on August 26, 2015 regarding the project of Central Utility Plant 4 or Central Utility

financial assistance Approved the renewal of a loan of 100 million baht with Mr.Boonsithi Chokwatana To Managing Director The Stock Exchange of Thailand According to the Board of Director Meeting of Pan Asia

of term, Adjustment of Executive Directors To The President, The Stock Exchange of Thailand The Board of Director’s Meeting No. 8/2018 of J.S.P. Property Public Company Limited, held on June 14, 2018

1 - Translation – Bor.Chor.Ngor 0351/2018 September 25, 2018 Subject: Connected transaction : Renewal of a hotel management advisor agreement Attn : President The Stock Exchange of Thailand With