expenses on back office personnel, marketing and branding, office supplies, depreciations of hotel properties, and non-operating expenses, e.g. professional fees relating to M&A activity, loss from exchange

office personnel, marketing and branding, office supplies, depreciations of hotel properties, and non-operating expenses, e.g. professional fees relating to M&A activity, loss from exchange rate, write-off

__________________________________________________ _____________________________________________________________________ 3. I/We have not had any record of violation of the laws or regulations of Home Economy in matters relating to the disclosure of

, the applicant shall have no record of violation of the law governing the undertaking of its business, other laws relating to financial business and concerning unfair securities trading, fraudulent or

granted, the applicant shall have no record of violation of the law governing the undertaking of its business, other laws relating to financial business and concerning unfair securities trading, fraudulent

, dealing or underwriting of investment units. “Association” means any association relating to securities business, which has been approved by and registered with the Office, whose objective is to promote and

” means the followings: (1) Management company; and (2) Securities company performing the duties of brokerage, dealing or underwriting of investment units. “Association” means any association relating to

) “Association” means any association relating to securities business, which has been approved by and registered with the Office, whose objective is to promote and develop securities business in the category of

of the Office governing rules, conditions and procedures for establishment and management of property funds; (8) “Association” means any association relating to securities business, which has been

Exchange Commission Re: Determination of Definitions in Notifications relating to Issuance and Offer for Sale of Securities  by virtue of Securities and Exchange Act B.E. 2535 (1992). Clause 7/1 2 A