usable, consequently necessitating sales below cost. However, the auditor was unable to verify this claim and found no supporting evidence to confirm the stated facts.   After considering in conjunction

below the market price to be consistent with the aforesaid principles, which specify that “a share offering at a price lower than the market price” means a share offering at a price lower than any of the

the project has progressed 99.84% (The construction plan was 100%). Consequently, the project was completed and its operation started on July 20, 2017. - Banpong Utilities Company Limited, (EGCO holds a

progressed 91.58% (The construction plan was 91.70%). The commercial operation date is scheduled in the fourth quarter of 2019. - SBPL Project, a project of San Buenaventura Power Ltd., Co., (EGCO holds a 49

with EGAT with the contracted capacity of 1,220 MW and Electricite De Laos (EDL) with the contracted capacity of 60 MW for 29 years. The construction of the project has progressed 94.37% (The

Energy Regulatory Commission (ERC) for final approval. The project targets for 85% contracted by commercial operation date. The construction of the project has progressed 61.24% (The construction plan was

detailed below.  The phase 2 of solar PV program for government agencies and agricultural cooperatives with targeted capacity of 219 megawatts selected by drawing lots process. A number of applicants were

progressed 97.45% (The construction plan was 97.09%). The commercial operation date is scheduled in the fourth quarter of 2019. Page 6 - SBPL Project, a project of San Buenaventura Power Ltd., Co., (EGCO holds