. Criteria: Net tangible Asset Financial Source for the Financial Support The financial support from the Company to GSTEL comes from excess internal cash flow from operation of the Company of which after

2016 to Bt6,576 million as of December 31, 2017; short-term debt as well as the long term loan decreased due to increased cash flow from operations and as the Company repaid the long-term loan in advance

ลดกระแสเงนิสด (Discount Cash Flow) และการเจรจาต่อรองระหว่าง บรษิทัฯ ผูถ้อืหุน้เดมิซึง่ประสงคข์ายหุน้ และ Phoenix แหล่งเงนิทุน : เงนิทุนหมุนเวยีนของบรษิทัฯ จ า น ว น คณ ะ ก ร ร ม ก า ร ใ น Phoenix ภายหล

กำหนดให้พิจารณาถึงรูปแบบ การบริหารเงินลงทุน (business model) และลักษณะของกระแสเงินสดที่คาดว่าจะได้รับ (cash flow characteristics) แทนการพิจารณาจากวัตถุประสงค์การถือครอง ซึ่งจะมีผลต่อการจัดประเภทของ เงิน

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

company was overwhelmingly supported by all brand partners who attended the event, resulting in a satisfactory cash flow throughout the event. In addition, the Company organized Asia Pacific E-Sport event

. The Company has drawdown loan for acquisition of subsidiary shares in 2Q’18 causing rising debt level at the end of December 2018 and subsequently paid down loan from its operating cash flow and

billion Baht cash flow throughout the 4- days event. In addition, the Company organized Asia Pacific E-Sport event in the first quarter of 2019 with 26 e-sport athlete teams participated from across Asia

the end of prior year mainly as a result of the Company’s subsidiaries’ financial result. In Q1 2018, Cash Flow Statement showed net cash from operating activities of Baht 279.96 million, net cash from

debt increased for working capital, while the long-term loan decreased due to increased cash flow from operations and as the Company repaid long-term loans in advance. As of June 30, 2018, Net Interest