the financial advisor (FA) to evaluate fair value of IGEN- ENEERGY as of 10 April 2019. FA has decided to use the Discounted Cash Flow Approach (DCF) to determine the value of consideration for the

the Asset Acquisition Agreement. The Board of Directors has considered such price reasonable in comparison with the expected benefits in the future, based on the Discounted Cash Flow and the Precedent

real estate developers. MK had several housing projects close to closing and prices were discounted to buyers. All of the factors that mentioned in the above caused MK’s gross profit margin in this

past transactions of THB 14.09 per share and assessed by the Discounted Cash Flow Approach by an independent appraisal of THB 13.89 per share. The total market value is THB 30,560,000. In this regard

of the Transaction The consideration value is determined from the discounted cash flow method, performed by company’s management, which is in-line with the investment policy of the Company. 8. Expected

บริษัทพิจารณาแล้วเห็นว่าเป็นราคาทีเหมาะสมเมอืเทียบกบัผลตอบแทนทีคาดว่าจะได้รับ ในอนาคตซงึพิจารณาจากวิธีการประเมนิโดยวธีิคิดลดกระแสเงินสด (Discounted Cash Flow) และวิธีเปรียบเทียบ อตัราส่วนมลูค่าของธุรกิจที

discounted pricing and other promotions to attract customers for increase in market share. (2) Pastry and bakery industry have a lot of new players each year result from low barriers to entry due to low start

• Total asset price is amounted to Baht 11,908,000,000. 6. Criteria for determining the investment value • Determined by using the discounted cash flow approach. 7. Expected benefits • CPN expects to have

the Sellers and is mainly determined by a methodology for assessing value of shareholders’ equity according to the ability to generate profit and cash flows to the Company in the future (Discounted Cash

Million, as appraised by Advisory Plus Company Limited, the Company’s financial advisor, based on the Discounted Cash Flow Approach, which reflects the future operational results of XPCL. Furthermore, such